Construction Industry Scheme

Limited CompaniesSole Traders & Partnerships

In an attempt to boost the post-pandemic economy, the super deduction tax rate and special rate allowance were introduced to encourage businesses to invest and boost productivity. However, these reliefs are coming to an end…

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Limited CompaniesSole Traders & Partnerships

INTRODUCTION New VAT rules are due to come into effect from March 2021 which will impact on accounting for VAT for transactions in the

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Limited CompaniesSole Traders & Partnerships

Whilst the majority of businesses charge VAT at the standard rate of 20% there are a number of different VAT rates and exemptions that businesses should be aware. There are actually three separate VAT rates, the standard rate of 20%, the reduced rate

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The Construction Industry Scheme (CIS) is a set of special rules for tax and national insurance for those working in the construction industry. Businesses in the construction industry are known as ‘contractors’ and ‘subcontractors’. Under the scheme,

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