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Top ten tips for a VAT inspection

What do you do when the VAT man knocks on your door? Don’t panic, says Burgess Hodgson’s Greg Mayne, who here outlines his top ten tips for dealing with a VAT inspection. (more…)

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Will your VAT payment be fast enough?

Faster payment of VAT

When a business fails to submit and pay its VAT return on time it may attract a default surcharge, a percentage penalty that is based on the amount of VAT that is paid late.

Where there is a ‘reasonable excuse’ for the delayed payment then HMRC may reconsider and withdraw the surcharge. If the business is unsuccessful at that stage but still feels strongly enough about their case, they may take the appeal to a formal Tribunal and allow an independent process to review and decide the matter.

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HMRC are changing their VAT Portal

Please take note: it’s not all about LOVE this Valentines Day!

HMRC have recently confirmed that from 14 February 2018 the current platform used to submit VAT Returns electronically, the Electronic Data Interchange (EDI) will be decommissioned and replaced with a new platform.

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Burgess Hodgson Raise £7,500 for Canterbury Wheelchair Rugby

The staff at Burgess Hodgson have once again broken their own yearly fundraising record, managing to donate £7,500 to the local Canterbury ‘Hellfire’ Wheelchair Rugby Club. 

The Club are very proud to be the only Club in Kent offering this Paralympic sport which is an exciting fusion of ice hockey, handball and rugby. However, following a review of Olympic funding post Rio 2016, Wheelchair Rugby had its funding cut entirely which has left many of the clubs suffering a funding crisis just to continue training each week.

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Let me get that for you – VAT & Disbursements – UPDATED GUIDANCE

The earlier article on the VAT treatment of disbursements has had to be updated as a result of a VAT tribunal case. The example provided in that article that illustrated a non-VATable disbursement scenario has now been judged to be one that should attract VAT, and so should not be used as any kind of template or treatment to be followed.

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Autumn 2017 Budget Summary

The Chancellor’s second Budget of 2017

 

CLICK BELOW TO DOWNLOAD OUR AUTUMN 2017 BUDGET SUMMARY:

Autumn 2017 Budget summary

 

The Chancellor has announced a steady as you go Autumn Budget.

The highlight of his mildly expansionary package was a new stamp duty land tax relief for first time home-buyers (outside Scotland). As long as the consideration for the property is no more than £500,000, first time buyers will pay no SDLT on the first £300,000 and above that they pay the normal rates.

It is worth noting that the Scottish Budget will be published on 14 December when their income tax plans for 2018/19 will be announced.

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Your Career at Burgess Hodgson

Are you talented and ambitious?  Do you want a professional career?  Do you want to earn as you learn?

If you answered yes to the above questions, then we would like to hear from you. As leading training providers in the South East, we are currently looking for our next high flyers to join our sought after graduate and school leaver training schemes. Hear from two of our current trainees about what opportunities a career with us can bring.

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Automatic enrolment – contribution increase from April 18

By law, the automatic enrolment pension contribution is increasing from 6 April 2018, and again from 6 April 2019. Employers must be ready to implement the changes on those days, so it is essential to start planning now to make sure you comply. (more…)

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Let me get that for you – VAT & disbursements

It’s always nice when you get something paid for by someone else, but in the ruthless world of commerce it’s likely that any such action is going to end up on an invoice as a recharge at some point. Often the cost will be rolled up within an overall charge for goods or services, but occasionally it will be separately itemised as an added extra.

The question then arises of how to treat this for VAT purposes.The use of the word ‘disbursement’ in VAT terms has its own interpretation and definition, and has been recently tested in the courts in respect of legal fees that are recharged. In explaining how disbursements worked it was often the legal sector that provided good examples, as in the following situations;

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