Postponed VAT Accounting: How does it work?

Postponed VAT Accounting: How does it work?

In a post-Brexit Britain, SMEs find themselves subject to import VAT on all goods worth more than £135 bought from EU companies as well as those outside the EU. Traditionally, businesses paid import VAT either as the goods reach the border, or via a Duty Deferment...
Tax Relief: Newly merged R&D scheme

Tax Relief: Newly merged R&D scheme

Are you aware of the newly merged R&D (Research and Development) relief scheme? Well, following on from last year’s Autumn Budget, the scheme has now come into effect, implemented for accounting periods beginning after 1st April 2024. It has presented...
Autumn Statement Summary 23

Autumn Statement Summary 23

Yesterday, Jeremy Hunt delivered the 2023 Autumn Statement, his third fiscal announcement as Chancellor of the Exchequer. Following the OBR’s recent confirmation that inflation has halved since January, the statement featured a stronger focus on tax cuts and...
Autumn Statement 2023: what it could mean for you

Autumn Statement 2023: what it could mean for you

As we continue to speed through November, it can only mean one thing; the Autumn Statement is just around the corner.   The Autumn Statement gives Chancellor of the Exchequer, Jeremy Hunt the opportunity to update the nation on the government’s plans for the...