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Stephen Hill Partnership Blog

TAX RETURN DEADLINE

I’m sure you are aware of how HMRC compulsory changes to tax are affecting businesses from this year, with making tax digital transforming tax administration and enforcing the drive towards digital. If you are subject to self-assessment, you’ll be required to submit your tax returns by midnight on October 31st if...

Domestic reverse charge VAT for construction services – delay in implementation

This brief explains that the introduction of the domestic reverse charge for construction services will be delayed for a period of 12 months until 1 October 2020. Please click on the link below for further information: https://www.gov.uk/government/publications/revenue-and-customs-brief-10-2019-domestic-reverse-charge-vat-for-construction-services-delay-in-implementation/revenue-and-customs-brief-10-2019-domestic-reverse-charge-vat-for-construction-services-delay-in-implementation  

Advisory Fuel Rates

The latest Advisory Fuel Rates for company cars have been published by HMRC and are now in place as of September 1st.   As accountants, it’s important we keep you informed of any changes to rates and allowances, and we have provided these for you in our FREE App...

Record Keeping

Record keeping if you’re self-employed: You must keep your records for at least 5 years after the 31 January submission deadline of the relevant tax year. You’ll need to keep records of: all sales and income all business expenses VAT records if you’re registered for VAT PAYE records if you employ people records...

IR35 CHANGES – APRIL 2020

  Changes are set to be rolled out for the private sector in April 2020, meaning those who fall within the conditions of IR35 could face a higher tax charge. It also means the responsibility for setting IR35 status will be passed from contractors to the medium and large...