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Resources 

Provided useful resources access to HMRC and company forms.

Autumn Budget

Hammond heralds vision of an 'outward looking, free-trading nation'
Business tax and investment incentives
National insurance contributions (NICs)
National Minimum Wage and National Living Wage
Tax and travel
Income tax and personal savings
Capital taxes
Making Tax Digital
Value Added Tax (VAT)
Duties
Other measures announced
What they said
A political background to the Budget

Value Added Tax (VAT)

The rates for 2018/19 are as follows:

From 1 April 2018
Standard rate 20%
VAT fraction 1/6
Reduced rate 5%
Turnover Limits
Registration - last 12 months or next 30 days over £85,000
Deregistration - next 12 months under £83,000
Annual and Cash Accounting Scheme £1,350,000
Flat Rate Scheme £150,000

The VAT registration and deregistration thresholds will not be uprated for a period of two years. The two year period ends on 31 March 2020.

Online VAT fraud

The government will legislate to extend HMRC's powers to hold online marketplaces jointly and severally liable for the unpaid VAT of overseas traders on their platforms to include all (including UK) traders.

Online marketplaces will be required to ensure that VAT numbers displayed for businesses operating on their website are valid. They will also be required to display a valid VAT number when they are provided with one by a business operating on their platform.

As well as general accountancy and tax skills, we also have individual specialist skills which enable us to provide clients with a first class service as and when required. With our wealth of experience, we pride ourselves on delivering an unparalleled service to all clients, whatever their size or sector.

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