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Archive for September, 2018

Recharged expenses, disbursements, and VAT thereon

Q. My client is an IT consultant, operating through a VAT registered UK company. He is supplying consultancy services to another UK IT business. He has incurred hotel, travel and meal expenses, and is charging these on to the company he is supplying. Can he treat these as disbursements, and therefore not charge any VAT[…] Read more »

Class 2 was about to be abolished but this has now changed

Class 2 national insurance contributions are payable by the self-employed. Contributions are payable at a flat weekly rate and entitle the contributor to short-term contributions based employment and support allowance, maternity allowance, widowed parent’s allowance, state pension, and bereavement benefits. The current weekly for 2018/19 is £2.95 and is based on whether profits are at[…] Read more »

Carelessness and tax avoidance: the new rules

If HMRC find that your tax return understates your tax liability, you can expect them to raise the question of penalties:  but only if the inaccuracy was either deliberate or due to your carelessness.  To put it another way, if you take “reasonable care” to get your tax right, you cannot become liable to pay[…] Read more »


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