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UK Tax

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The Office Christmas Party – The Tax Rules

2019-11-07T18:41:55+01:00November 5 th, 2019|UK General, UK Tax|

It might seem that the office Christmas party would be one area of business life where the taxman would fear to tread. However, HMRC is in fact interested in making sure companies adhere to the correct tax treatment for their annual shindig. The rules surrounding the expenditure and tax liability of your party are actually ...

An overview of UK payroll costs

2018-08-14T15:56:49+01:00August 14 th, 2018|UK General, UK Payroll, UK Tax|

Calculating UK payroll for your employees should not be taken lightly. The employee will suffer if the correct calculation and methodology including previous UK experience is not applied. We look at providing an overview of UK payroll costs, taken from a typical payroll summary spreadsheet we provide to our clients, and break it down – ...

Producing UK dormant accounts for a UK company in USD/EUR

2018-07-15T10:32:53+01:00July 14 th, 2018|UK Accounting, UK Tax|

We are asked periodically about producing dormant accounts in the UK for UK company where the accounts currency is in either USD or EUR. Other currencies can of course be used. What constitutes a dormant company? Simply put this is a company that has been no transactions on the bank statement apart from perhaps a ...

What must a UK VAT invoice show?

2018-07-11T08:07:16+01:00July 10 th, 2018|UK Tax|

For those company's that are raising sales invoices, we are often asked during the initial setup stage - what must a UK VAT invoice show? There are standard and expected points that the invoice should show. Assuming you are VAT registered and you sell goods and/or services to somebody else that is VAT registered (be ...

Self Employed UK: Expenditure and Allowances

2018-04-22T19:55:20+01:00April 22 nd, 2018|UK Tax|

When it comes to working from home, it can be difficult to decide what you should and should not be claiming for. As a rule, any expenditure incurred that is wholly and necessary for the purpose of the business is allowable. It should not be capital expenditure or private, although there are allowances available for ...

UK VAT Registration for online businesses

2017-08-10T15:14:08+01:00August 10 th, 2017|Setting up in the UK, UK Accounting, UK Legal, UK Tax|

HMRC's more rigorous approach to company's that need UK VAT Registration for online businesses set a precedent earlier this month (1 August 2017) with eBay resulting in customers no longer contracting with eBay Europe in Luxembourg, but now trading with eBay (UK) Ltd. This meant for the customers of eBay (UK) Ltd, that VAT will ...

UK Inward Investment and Brexit

2016-11-18T12:15:16+01:00October 4 th, 2016|Setting up in the UK, UK Tax|

With the growth forecast recently updated for the UK the UK Economy - is this a time for overseas companies at setting up in the UK to rethink their expansion strategy? Granted, whether you voted LEAVE or REMAIN, this is good news for the UK economy. However, what does that mean for companies looking to ...

A Simple Guide to Operating a UK Payroll for overseas companies

2017-07-22T20:11:29+01:00March 30 th, 2016|Setting up in the UK, UK Payroll, UK Tax|

Registering a UK payroll scheme for overseas companies To have a UK payroll scheme for overseas companies, you need to register as an employer with HM Revenue and Customs.  A payroll can be run monthly, which is usual in the UK, or weekly. As part of running a payroll scheme you are responsible for collecting ...

UK VAT – what is it and when do I need to register?

2018-04-22T10:37:52+01:00January 21 st, 2016|UK Tax|

UK VAT (Value Added Tax) is a sales tax. It is however, a cost to individuals and businesses that are not VAT registered as these parties cannot reclaim the VAT on their returns. UK VAT registration is compulsory when: A UK based business makes taxable supplies (sales) above a certain threshold (see below). You expect ...