Mar 22, 2022 | FAQ, Tax, Vault
Stamp Duty Land Tax (SDLT) receipts were somewhat skewed in the last year as the SDLT holiday for properties worth up to £500,000 was phased out on June 30, 2021, and the holiday for properties worth between £125,000 and £250,000 ended on September 30. These two...
Mar 15, 2022 | Information, Tax, Vault
Inheritance tax (IHT) is one of the most hated taxes there is, mainly because for many people their estate faces a 40% tax rate which is higher than they would have paid during their lifetime. HMRC’s latest figures reveal there has been a £700m increase in IHT...
Mar 10, 2022 | Business Start Ups, FAQ, Making Tax Digital, QuickBooks, Vault
Starting 1 April 2022, all VAT (value-added tax) registered businesses must comply with Making Tax Digital (MTD), regardless of what their turnover is. Up until that point, businesses under the VAT threshold (turnover less than £85,000 per year) didn’t have to comply...
Nov 8, 2021 | Expenses, Vault
In the UK, if you are making taxable supplies and your turnover exceeds £85,000, you must register for VAT. In certain circumstances, even if your turnover has not exceeded the threshold, you can voluntarily register for VAT. From April 2019, most businesses (there...
Aug 14, 2021 | Expenses, Vault
The eligibility criteria for the second grant is exactly the same as the first grant – so self-employed people who were eligible for the first SEISS grant will be eligible for the second grant, so long as their business has been adversely affected since 14 July...
