Call us: 020 3355 8104

IR35 Business Entity Tests

The IR35 Forum has recently reviewed the new approach to administering IR35 introduced in 2012. This review included the Business Entity Tests (BETs) that businesses can take to self-assess their risk of IR35.
The review found the BETs were not helping customers as they're:

  • used very little
  • not fulfilling their intended purpose
10 November 2014
HMRC

read more

How to reduce your VAT bill

The FRS (flat rate scheme) is a simplified way of calculating the VAT you have to declare and pay. And it can actually reduce your VAT bill. It works by charging VAT at the full normal rate on sales you make but paying over a lower percentage to the VAT. With a few exceptions, you can't reclaim any VAT which you pay on purchases.

9 November 2014

read more

Business entertainment.

The cost of entertaining is not deductable expense for tax purposes either for you or your company. Business entertainment includes hospitality of any kind: parties, meals, rugby tickets.

If you provide customers with free food, drinks tickets or gifts HMRC says you must exclude the full cost of the event from your accounts, so you don’t get relief on anything that involves entertaining customers.

9 November 2014

read more

  • Logo
  • Logo
  • Logo