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Stephen Hill Partnership Blog

Category Archives: Tax

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...

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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...

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Construction Scheme Domestic Reverse Charge

HMRC Guidance Note on the Reverse Charge for Construction Services   Introduction   The government has published a final version of the draft legislation, in the form of a statutory instrument which will introduce a VAT domestic reverse charge for building and construction services with effect from 1 October...

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Why should you hire a bookkeeper?

Why should you hire a bookkeeper? 1. Keep your focus on core business needs – Invest your time developing the business rather than worry about the bookkeeping side of things. 2. Maintain a healthy work-life balance – Have time at the end of the day or week for yourself...

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Is your email from HMRC genuine?

Is your phone call/text/email from HMRC genuine? Taxpayers are being warned to beware of ‘phishing emails’ that appear to come from HMRC. ‘Phishing’ is the act of sending fraudulent emails to obtain personal or financial information. HMRC will never send notifications by email about tax rebates or refunds. Do...

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