Effect of VAT Deregistration

Effect of VAT Deregistration

Where your business deregisters it can trigger hidden VAT charges. What are they and what steps can you take to avoid them? Unregistered advantage Not having to add VAT to their prices can give non-registered traders a competitive edge in the market, mainly where they...
Is Flat Rate VAT Scheme Suitable For You?

Is Flat Rate VAT Scheme Suitable For You?

If you sign up to HMRC?s flat rate scheme for VAT and find that it?s costing you money, can and should you opt out? The flat rate VAT rate The VAT flat rate scheme (FRS) allows companies and other businesses to pay VAT at a lower rate in exchange for agreeing not to...
Lumpsum Pension Alternatives

Lumpsum Pension Alternatives

The new pension rules allow for a variety of ways to take a lump sum from your pension fund. Each has different tax consequences. What factors should you consider before taking your money? Lump sums Our recent article about the new uncrystallised fund pension lump...
Maximise Your Reclaimable VAT

Maximise Your Reclaimable VAT

Your company makes both VATable and exempt sales, which means it can?t recover the VAT it pays on some purchases. Working this out involves several steps. How can you ensure you maximise the VAT reclaimable? Partial exemption When tax experts give advice on partial...
No Class 2 NI on buy to let

No Class 2 NI on buy to let

Sudden rise in Class 2 NI demands.¬†There’s been an increase in letters from HMRC contending that property investor clients owe six years? Class 2 NI. Worryingly, no copy of this letter is being sent to the agent so you may be unaware that your client has even...