Pearson May partner David Richards looks at proposed changes to the flat rate VAT scheme Many small businesses use the VAT flat rate scheme (FRS) to simplify VAT reporting and some even gain a cash advantage from using the scheme. One of the conditions for using the FRS is that the business’s turnover (excluding...
Most people are aware that January 31 is the online filing deadline in respect of tax returns for the year ended April 5, 2016. But the penalties for not dealing with your affairs on a timely basis can be significant and can quickly turn into a serious issue the longer that matters are left, warns...
Whatever your reasons are for donating to charity, an added bonus can be the tax breaks that are available, says Pearson May partner Jacqui Bowden. Gift Aid Donating through Gift Aid means that charities can claim an extra 25p for every £1 you donate. Any donation you make under Gift Aid is deemed to...
