Latest Accounting News from the UK's Leading Accounting …
3 days ago · AccountingWEB.co.uk is the largest independent online community for accounting and finance professionals, providing all the latest accounting news, opinion and insights and enabling online engagement.
Moneysoft - AccountingWEB
Payroll Manager is a comprehensive, easy to use, HMRC recognised for 2019-20 RTI compliant payroll software package used by thousands of SME’s, agents, accountants and CIS Contractors across the UK. In the first 6 months of the tax year 2018-19, more than 1.5 million RTI submissions were successfully filed through our software.Features to support …
Common mistakes made when operating the Construction …
Common mistakes made when operating the Construction Industry Scheme. The recent changes introduced from 6 April 2021 suggest that HMRC remain focused in their compliance approach regarding the construction industry arena.
Related parties under FRS 102 - AccountingWEB
Jun 29, 2021 · Small companies need not disclose directors’ remuneration and other benefits following an amendment to company law by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (SI 2015/980).. However, small companies may need to provide this disclosure in certain situations – for example, if the remuneration structure is not carried out under ‘normal market ...
Deferred tax: Get the details right - AccountingWEB
Dec 7, 2021 · FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland deals with deferred tax in Section 29 Income Tax.For micro-entities choosing to prepare financial statements under FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime, deferred tax is irrelevant.. FRS 102 requires deferred tax to be recognised on all timing differences that have ...
Spring Budget 2024: Essential tax rates and thresholds
Mar 6, 2024 · Rebecca Cave compiles a guide to the main tax rates and allowances updated in the Spring Budget, showing the main changes that will come in from 6 April 2024.
Reverse-charge VAT rule is flipping confusing - AccountingWEB
Nov 30, 2023 · 2. Reverse charge relating to services – purchases from suppliers. When a UK business is receiving a service from overseas, if VAT-registered, the business takes the net figure on the invoice and treats it as both a sale and a purchase, the net figure going into Boxes 6 and 7.
HMRC clarifies tax on reimbursement of electric car charging
Oct 13, 2023 · The legislation goes on to say that this exemption does not apply to car fuel. Until now, the guidance in the Employment Income Manual (EIM23900) has contradicted the legislation in advising that if an employer reimburses an employee for charging their car at home this would be a taxable benefit.
Different types of company shares: A quick guide
Oct 14, 2022 · Company shares are not a one-size-fits-all thing and will come under several different share classes. As long as due process is followed, and subject to any restrictions in its articles of association, new share classes can be created by companies at any time.
VAT domestic reverse charge: Your questions answered
Dec 8, 2021 · The full HMRC technical guide to the VAT domestic reverse charge is worth bookmarking, but in summary the key points are:. The rules broadly apply to transactions between VAT registered businesses within the construction industry scheme (CIS) where the customer is not the ‘end user’ (the end user being someone who will not be making an onward supply of construction services).