Domestic reverse charge delay explained
The government has announced that it will delay the implementation of the domestic reverse charge until October 2020, citing industry concerns and Brexit as key reasons behind the postponement. Nottingham chartered accountants Clayton & Brewill explains what you need to know about the reverse charge and why it has been delayed. The delay HMRC has… View Article
Claiming capital allowances
Getting tax relief on a claim for capital allowances is not always plain sailing. This was recently highlighted at a tax tribunal, where a taxpayer faced the possibility of forfeiting tax relief on 80% of his expenditure. Nottingham chartered accountants Clayton & Brewill explains more about this particular case and the recent changes around capital… View Article
Tax investigations protection – why it’s important you’re covered
With HMRC enquiry activity being more focused and targeted than ever before, tax investigations are on the increase. In 2017-18 alone, HRMC collected £30.3 billion through compliance activity. Nottingham chartered accountants, Clayton & Brewill explains more about tax investigations and why it’s important to ensure you have tax investigations protection in place. Tax investigations and… View Article
How to sign up to Making Tax Digital for VAT
Most businesses with a taxable turnover over £85,000 are required to comply with new HMRC Making Tax Digital requirements for VAT. Nottingham chartered accountants Clayton & Brewill provides details of how to sign up to Making Tax Digital for VAT. If your business has a taxable turnover over £85,000 it is highly likely that you… View Article
Construction Services Domestic Reverse Charge: New VAT rules for building and construction services
From 1 October 2019, the Construction Services Domestic Reverse Charge (CSDRC) will be introduced by HMRC, in a bid to tackle VAT fraud in the construction industry. Nottingham chartered accountants Clayton & Brewill explains what you need to know about the reverse charge measure. The new measure will mean that a person supplying certain construction industry… View Article
Spring Statement 2019
On 13 March 2019, Chancellor Philip Hammond presented his Spring Statement. Nottingham chartered accountants Clayton & Brewill provides a brief review of the Statement, along with some changes that are coming into effect in the near future. Unsurprisingly, the Spring Statement 2019 didn’t really reveal anything that we didn’t already know. The Chancellor pledged last… View Article
Buy to let landlords hit by changes in the rental market
The UK buy to let market has been subject to numerous changes in recent years, resulting in landlords being affected. Nottingham chartered accounts Clayton & Brewill discusses what impact the changes are having on the UK buy to let property market and whether there are still opportunities for investors. What changes are impacting the buy… View Article
Making Tax Digital for VAT guide
Making Tax Digital for VAT brings mandatory new requirements, for businesses with a taxable turnover above £85,000, from April 2019. Nottingham chartered accountants Clayton & Brewill has put together a helpful guide that explains more about Making Tax Digital for VAT. Our guide provides more information on: The new rules Who is affected Exemptions Software… View Article
HMRC releases list of Making Tax Digital software suppliers
HMRC has recently released details of software suppliers whose software meets the requirements of the forthcoming Making Tax Digital (MTD) initiative. Nottingham chartered accountants Clayton & Brewill, shares more details about MTD and the related requirements. What are the MTD requirements? From 1 April 2019 businesses with an annual taxable turnover of more than £85,000… View Article
Making Tax Digital delayed due to Brexit
Last week, HMRC announced that it was putting a halt on some of its Making Tax Digital plans due to resources being stretched by Brexit. Nottingham based chartered accounts Clayton & Brewill provides an update on Making Tax Digital and explains what areas are being delayed and why. What is Making Tax Digital? Making Tax… View Article