VAT reverse charge mechanism: who accounts for VAT
The supplier isn’t always the party that accounts for VAT. Under the UK domestic reverse charge, the customer accounts for VAT instead of the…
Import VAT and customs duty: how to calculate UK import costs
The UK import bill depends on the goods and where they enter. In Great Britain, non-excise goods worth £135 or less aren’t charged Customs Duty,…
Questions to Ask a New Accountant: Find the Right Fit
Price alone is a poor measure of whether an accountant will serve you well. A useful set of 10 questions to ask a new accountant should cover their…
UK tax residency rules for individuals: how UK days count
A UK tax-residence decision is not simply a count of nights away. Under the UK tax residency rules for individuals, spending 183 or more days in the…
Partial exemption VAT: how to calculate recoverable VAT
Your VAT recovery depends on how costs relate to taxable and exempt supplies, not simply on total sales. Under the standard partial exemption VAT…
VAT margin scheme for used cars: who can use it and how it works
The VAT margin scheme for used cars can make standard VAT the wrong comparison. A VAT-registered dealer may use it for an eligible second-hand…
How to apply for a certificate of residence for tax purposes
A certificate of residence for tax purposes is evidence that HMRC considers you UK tax resident for a particular period or date. It can support a…
Cost of outsourced payroll UK: What prices to expect
A low payroll fee can hide the costs that matter most. The cost of outsourced payroll in the UK depends on employee numbers, pay frequency, the work…
Transfer pricing documentation requirements: what to keep and update
The documentation burden is not the same for every UK group. For groups with consolidated revenues of EUR 750 million or higher, the transfer pricing…
P11D benefits in kind: taxable values and employer costs
A P11D records taxable benefits and expenses an employer has provided to an employee; it doesn’t calculate the employee’s tax bill. With P11D…
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