Taxpayers with modest levels of pension contributions can be caught out by one of two restrictions on their annual allowance. Any excess contributions above their allowance must be declared on the SA tax return. Where the pension contributions made by, or on behalf of, an individual taxpayer exceed that taxpayer’s annual allowance for the year, […]
It’s essential that a person’s national insurance contribution record is accurate so the correct state pension is paid on retirement. But HMRC does not check the NIC paid figures, so it’s down to the taxpayer to do so. With the income tax system, we have the comfort of an annual reconciliation process. Most taxpayers believe […]
The government has announced a review of the roll-out of its off-payroll working rules, but industry specialists have expressed concern that the analysis will not result in any meaningful change. A review of changes to off-payroll (IR35) working rules was announced in a statement yesterday and has been commissioned to “address any concerns from businesses and affected […]
Neil Warren explains that VAT registration can be avoided in some cases if the organisation can tweak its business model. He shares the tale of a cricket club he recently advised. In the quarter to 30 September 2019, there were 69,000 new VAT registrations in the UK, with 50,000 falling off the radar by deregistering. […]
A first tier tribunal panel disagreed about whether dating services should be subject to VAT after the taxpayer claimed that her expert relationship advice constituted consultancy work. It is an accepted fact that most business-to-consumer (B2C) services provided by a UK business are subject to VAT (if standard rated) because the general rule for B2C […]
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