Recently the chancellor announced a temporary cut in the VAT rate for certain types of businesses in the hospitality and tourism sector. The standard 20% rate is being reduced to 5% from 15 July 2020 until 12 January 2021. Xero has the capabilities to apply the changes, all you need to do is select the […]
Month: August 2020
The IR35 legislation continues to draw criticism.
Earlier in the year, I wrote about the implementation of the highly controversial IR35 legislation which of course was delayed until April 2021 due to the pandemic. A report by the House of Lords heavily criticizes the government: “IR35 is riddled with problems, unfairness and unintended consequences and has not worked for 20 years, according […]
Could changes to VAT rules be on the way for online sellers?
According to a leaked document which appeared in the Financial times the UK Government could be looking to close a VAT loophole, currently thought to cost the UK in lost tax revenue between £1bn and £1.5bn in 2015/16. VAT fraud by online sellers occurs when goods are sold in the UK online but are deemed […]
Are your employees returning to work?
As begin to return to the office after so many months working from home, how as business leaders do we support the transition and the mental health of our employees? The team at UNMIND have put together 6 Steps to Mentally Healthy Transitions, its free to download: https://resources.unmind.com/handbook-6-steps-to-a-mentally-healthy-transition “While going into lockdown forced us to […]
What are the advantages of online accounting?
In uncertain times it’s more important than ever that businesses have up-to-date financial information to inform decisions and drive strategic growth. If you have not yet made the leap to cloud accounting now is the time! Advantages include: Run your business from anywhere – Access your business finances anytime, from any internet-connected device – phone, […]