Category: Tax

VAT MOSS what next? Changes to VAT on cross border online sales

On 1 December 2016 the European Commission released its proposals for changes in the way VAT is applied to cross-border online sales within and into the EU. The current situation Since 1 January 2015 any business (whether VAT registered or...

/ 18th January 2017

Changes to VAT Flat Rate Scheme (FRS)

In his Autumn Statement of November 2016 the Chancellor announced changes to the FRS designed to combat perceived abuse; predominantly by labour only agency workers.  It will however affect many other service sector businesses. The announcement was followed by HMRC...

/ 11th January 2017

Making Tax Digital (MTD) and what it means for your business

HMRC announced Making Tax Digital (MTD) initiative in the March 2015 Budget and has released on 15 August 2016, 6 consultation papers on various aspects of this proposal. The consultation period runs until 7 November 2016. Here is a quick summary...

/ 18th August 2016

Tax guide for accidental landlords

The state of the UK’s housing market over the last few years may have meant that you’ve found yourself as an accidental landlord with a property you weren’t able to sell. According to research by Rightmove, accidental landlords make up...

/ 3rd July 2013

Employee and employer salary and tax table

For the tax year 2013/2014 this spreadsheet provides some interesting statistics for employees and employers. Employee Salary Table (PAYE, NIC Employees, NIC Employers) For employees you can find out what your take home pay is based on your annual salary...

/ 9th May 2013

Taking Earnings From Owner Managed Companies

In these tough times, many small company owners will look to withdraw money from their business to fill the funding gap. Mahin Khawaja from Clear Books partner Adroit Accountax takes an overview of some of the legal and tax implications...

/ 27th July 2012

Try our free VAT calculator tool

For a free online VAT Calculator from Clear Books try: VAT Calculator One of our customers was having problems with a particular online VAT calculator. It turned out that the website in question didn't actually calculate the VAT correctly. Creating...

/ 24th September 2009

Research & development tax credits for small businesses

4,500 small businesses are claiming research and development tax credits each year according to an HMRC guide on R&D tax credits for small businesses. Qualifying R&D expenditure helps reduce a company's corporation tax bill but with such a small number of companies...

/ 14th January 2009

Tax on business entertainment

Tax rules can be confusing when dealing with business entertaining expenses. Below are examples of the three main types of business entertainment and their tax implications. The three types are client entertaining, staff entertaining and subsistence. Example Reclaim VAT Offset...

/ 7th January 2009

Salary sacrifice pension scheme

The Smart Pension Scheme is a salary sacrifice scheme that provides an option for companies to save cash and increase the takehome pay or pension contributions made to employees. In a difficult economic climate, companies are looking at ways to cut...

/ 6th January 2009