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Latest News & Events
VAT now represents 21% of HMRC’s total tax take as receipts hit record high
The total amount of VAT collected by HMRC has jumped 60% over the same period to £125bn in 2017/18, up from £78bn in 2008/09
Amazon and eBay face VAT liability bombshell as HMRC targets ‘sea change’ in attitudes
Unpaid VAT on online sales has become a huge issue in recent years, and has cost the Exchequer a vast amount in potential lost revenues.
Tech hub Croydon is UK’s fastest growing economy
According to our latest research, Croydon has the UK’s fastest growing economy as it increasingly becomes a leading business hub for technology companies.
UBER – avoidance (or not) and other issues
There was in an interesting article in the Sunday Times that suggests UBER’s business model leads to a multi-million VAT loss to the Treasury annually.
Domestic reverse charge – VAT for construction services
The domestic reverse charge ‘DRC’ will only affect supplies at the standard or reduced rates where payments are required to be reported through the Construction Industry Scheme ‘CIS’. The domestic reverse charge was first proposed and consulted on in 2017 and aims to combat missing trader fraud in the construction sector (similar to computer chips and mobile phones).
New rules for payslips
Prior to 6 April, it was only employees that had the right to receive an itemised payslip, disclosing not only the amount of monies to be received but also the number of hours worked. This right is, from 6 April extended to all workers.