You might need to pay VAT on the purchase price. This can be included in the price or added if buying from an international seller. Selling NFTs Capital Gains Tax Selling an NFT is subject to Capital Gains Tax (CGT) on the profit made, be it against fiat or cryptocurrency. VAT: ...
If your travel expenses are exclusively for business, you may be able to claim them as an HMRC expense deduction. Eligible expenses include transportation, accommodation, and meals while travelling for business. Employers don’t need to pay tax on reimbursements for employee travel expenses for work...
we do offer some resources for those working in the gig economy. That’s because we know such self-employed individuals struggle with having multiple trades; correctly using thetrading allowance, registering for Flat Rate VAT, expenses and not falling behind on...
VAT Portal closure dates confirmed :backhand_index_pointing_right: https://quickbooks.intuit.com/uk/blog/vat-portal-closure-2022/ If you have any questions about how to file VAT from 01 November 2022 onwards, please let us know by posting a comment below and we'll be happy to help you. ...
If you default again in the next 12 months, you may have to pay extra on top of the VAT you owe. Do any other penalties apply? Yes – HMRC can also impose a penalty of 15%-100% of the unpaid amount owed if your VAT return is inaccurate. How can Entertainment Partners help? The ...
There is no limit to the number of miles you can claim for so long as they are used for business-related travel. This includes business travel using your own vehicle outside the UK. However, you cannot claim reimbursement for VAT mileage expenses for fuel purchased outside of the UK....
If you're a VAT-registered business owner in the UK, you're likely already familiar with the current implementation of Making Tax Digital (MTD). This means that
The R&D Tax Credit has directly been applied towards reducing the Group's pay as you earn ("PAYE") and value added tax ("VAT") liabilities for the financial year ended 31 December 2023 and to 29 February 2024. For further information please contact: ...
charged to others (output VAT) and the amount of VAT you've been charged by other businesses (input VAT). The VAT you need to pay to HMRC is the difference between your output and input VAT. If your input VAT is greater than your output VAT, you can claim the difference back from ...
Priestly, Chris