HMRC Time To Pay The economic climate means many businesses are finding themselves in tough situations and unexpected events can easily spiral out of control leaving, you unable to pay your bills. This situation is not unusual but unfortunately many companies try to ignore the issues. It is vita...
Business with arrears may benefit from the government’s Time to Pay Arrangements, which allow the business to repay any outstanding tax, such as PAYE/NI and VAT liabilities, in instalments. A Time to Pay Arrangement normally lasts for a defined period of around 6 or 12 months, although ...
It notes that HMRC has loss to MyTravel one million pounds, and its loss is just a small part of a bigger problem. It mentions that the taxman offers time-to-pay arrangements to struggling businessmen to preserve its relations.EBSCO_bspAccountancy Age...
your client must not have any other debts the Time to Pay arrangement must be set up within 35 days from the date the liability was due the debt must not include penalties or specified charges. all returns must have been submitted.
As well as the more general guidance notes on General Approach to VAT Compliance Controls (Part 2), the GfC for VAT includes a number of documents dealing with specific processes including: order to cash procure to pay employee expenses
correctly using thetrading allowance, registering for Flat Rate VAT, expenses and not falling behind on your taxes -- among other areas. It’s therefore fair to say that, as far as we’ve come on freelancer tax simplification, the government agenda to help such tiny traders more than...
Business travel expenses are costs you pay when you travel for work. 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...
These joint and several liabilities for marketplaces allow HMRC to issue notices to the marketplaces to remove overseas sellers who do not register for VAT or pay the correct VAT in the UK. If they are not removed from these platforms HMRC will come after the marketplace for the outstanding...
If you decide to put names of your directors on your invoices, you must include the names of all directors. Seller’s VAT identification number Full name and address of the buyer Time of supply (tax point) if it is different from the invoice date Description of the goods or services For...
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