The High Income Child Benefit Charge is effectively a clawback of child benefit paid to ‘high income’ individuals and couples. The charge does not only apply to the recipient of child benefit or the parents of the child in respect of whom child benefit is paid-
The taxation of dividend income was reformed from 6 April 2016. Since that date, dividends are paid gross – there is no longer any associated tax credit – and all taxpayers receive a dividend allowance.
‘Cashflow is King’ may seem like a glib soundbite, but it’s rooted in a harsh truth - with a lack of funds the single biggest reason why businesses go to the wall.
Cashflow forecasting is therefore a fundamental tool in your financial armoury - and even if you’re sitting pretty right now with plenty of money in the bank, forecasting is essential to ensure that remains the case.
The VAT capital goods scheme affects input tax recovery in relation to high value capital assets by partially exempt traders and businesses where assets are used for both business and non-business purposes.
The introduction of GDPR has led to some major changes in the way businesses deal with personal data - notably requiring you to prove permission or ‘just cause’ for processing the data in the first place.
Recent research has shown that over 40% of small-business owners are still not aware of Making Tax Digital.
From April 2019, VAT registered businesses with turnover over £85,000 will be required to keep a digital record of their VAT transactions, and submit their VAT returns using Making Tax Digital-compliant software.