Recovering VAT on car purchases
26th August 2021 Posted by - Alexander Accountancy
There are complex VAT rules that determine how you can recover VAT on car purchases. The usual fallback rule is that if you purchase a car for your
Monthly Archives: August 2021
Covering pension contributions with unused allowances
26th August 2021 Posted by - Alexander Accountancy
The annual allowance for tax relief on pensions is currently set at £40,000. The annual allowance is further reduced for high earners. This means that
Post cessation receipts and payments
27th August 2021 Posted by - Alexander Accountancy
There are special rules for the taxation of post-cessation receipts and expenses after a trade has ceased. These provisions also apply to professions and vocations as they apply to trades. […]
Construction services and reverse charge
26th August 2021 Posted by - Alexander Accountancy
New VAT rules for building contractors and sub-contractors came into effect on 1 March 2021. The new rules make the supply of most construction services between construction or building businesses […]
Bona Vacantia & dissolved companies
24th August 2021 Posted by - Alexander Accountancy
The final step in bringing a company to a legal end is when the company is dissolved. However, one of the important points to be aware of when doing
1.8m couples benefit from extra tax relief
23rd August 2021 Posted by - Alexander Accountancy
HMRC has confirmed that almost 1.8m couples across the UK have benefitted from the marriage allowance and are saving up to £252 a year. The marriage
Goodwill and Corporation Tax
20th August 2021 Posted by - Alexander Accountancy
Goodwill is rarely mentioned in legislation. Most people would settle on a simple definition which would be based on the ‘extra’ value of a business over and above its tangible assets. […]
Who can use VAT annual accounting scheme
18th August 2021 Posted by - Alexander Accountancy
The VAT annual accounting scheme is open to most businesses with a turnover of up to £1,350,000 per year. The main benefits of the scheme include the requirement to file […]
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