An insight from the gbac team on all things accounting, finance and more.
From 1 March 2021 the domestic VAT reverse charge must be used for most supplies of building and construction services. The charge applies to standard and reduced-rate VAT services: for individuals or businesses who are registered for VAT in the UK reported within the Construction Industry Scheme When the reverse charge applies, a supplier of […]
In the eleventh hour move, HMRC have announced that they are extending the tax self-assessment deadline by a month, from 31 January to 28 February as there are more than 3 million people who have still not filed their 2019/20 tax return. It is hoped that the extension will be a sigh of relief for […]
With a new national lockdown from 5 January, the Treasury announced another round of one-off cash grants for retail, hospitality and leisure businesses to help them through to the spring. There is also further discretionary funding to support other impacted businesses. The new grants are only for businesses situated in England, with the devolved administrations […]
In order to support individuals who require additional time to pay, HMRC is encouraging use of its online tool to set up an instalment plan for self-assessment tax payments via a Time to Pay arrangement. The online tool can be used for tax liabilities of up to £30,000. This is a self-serve process which means […]
As a proud Yorkshire based accountancy firm founded over 50 years ago, we are overjoyed to share the news of our inclusion to the Handpicked Accountants network which shortlists the highest calibre of trusted accountants across the country. Our extensive and experienced team of business consultants, accountants, auditors, tax advisors, payroll and legal compliance experts […]
“Our health emergency is not yet over. And our economic emergency has only just begun”. These were the stark words from the Chancellor, Rishi Sunak yesterday as he delivered the 2020 Spending Review; with little indication as to how the Government intended on balancing the books and instead provided a heavy emphasis on spending in […]
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