Insights

MAKING TAX DIGITAL

By Insights

Making Tax Digital (MTD) marks the end of paper record-keeping for millions of businesses and self-employed professionals in the UK. If you have a VAT-registered business, you need to prepare for MTD by 1st April 2019. Read further on the various topics below:
What’s happening in April 2019?
What VAT records will need to be kept digitally?
How will Devonshire Green prepare for MTD?
What else is changing?

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TAXING GAINS MADE BY NON-UK RESIDENTS ON UK IMMOVABLE PROPERTY

By Insights

From April 2019 non-residents will be subject to capital gains tax on disposals of all UK property. In the 2017 Autumn Budget, the Government announced that from April 2019 tax will be charged on gains made by non-UK residents on the disposal of all types of UK immovable property; effectively extending the rules that currently apply to non-UK residents on disposals of UK property.
Scope of the new charge
Direct disposals by non-UK residents
Indirect disposals by non-UK residents
Anti-forestalling rule and TAAR
Interaction with the ATED rules
Conclusion

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TOP 10 TAX TIPS FOR LIMITED COMPANY DIRECTORS

By Insights

As a company director, it’s imperative that you do what you can to make the right tax savings. If you want to better manage your finances, it pays to make use of tax tips that help you to get the most out of the money that you earn.
Executive pension scheme
Paying dividends
Claiming expenses properly
Making an investment
Further tax tips for your business

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5 TIPS FOR FINDING THE BEST CONTRACTOR ACCOUNTANTS

By Insights

When running a business, one of the biggest decisions you can make is hiring a contractor accountant. If you are unsure of how to hire an accountant of this kind, we recommend that you check out this article. We’ll provide you with key tips such as:
Always pick specialist contractor accountants
The best contractor accountants are IR35 compliant
Find a contractor accountant who is tech-savvy
Know what kind of accountant you need
Listen to those who know

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QUICK STEP GUIDE TO SETTING UP A LIMITED COMPANY AS A CONTRACTOR

By Insights

Any business owner who is interested in setting up a limited company may be unsure of the process. If you want to know more, this quick-step guide breaks down the challenges of setting up a limited company as a contractor. This includes important steps such as:
Form a limited company
Open a business bank account
Get PAYE Registered
Evaluate VAT for your limited company
Handle all insurance needs
Take care of all expense records

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HOW TO SET UP AND REGISTER YOUR BUSINESS AS A SOLE TRADER?

By Insights

In business, there are many reasons why you might choose to set up as a sole trader. However, making sure you follow the right path to sole trader registration is very important. In this article, we’ll cover the key points of how to register your business as a sole trader, including:
The benefits of sole trader registration
How to register as a sole trader
Choosing a business name
The responsibilities of a sole trader
VAT registration

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WHAT IS CONSTRUCTION INDUSTRY SCHEME (CIS)? ALL YOU NEED TO KNOW

By Insights

Working within the construction industry can seem quite confusing, and we want to help you get a better handle on the Construction Industry Scheme (CIS). CIS is very beneficial in some circumstances, but it’s important that you understand how it works. In this article, we’ll take a look at key parts of CIS, including:
What is the Construction Industry Scheme (CIS)?
What makes me eligible as a contractor/subcontractor?
What work falls under CIS jurisdiction?
Does any construction work fall outside CIS?
Registering for CIS

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6 EXPENSIVE SELF-ASSESSMENT MISTAKES TO AVOID

By Insights

When carrying out your Self-Assessment tax return, it’s very easy to make some mistakes you wouldn’t notice yourself. With the rules changing so quickly on taxation, it can be easy to make common self-assessment mistakes such as:
Forgetting to file.
Failing to date and sign.
Working with the wrong tax codes.
Forgetting to include interest on all income.
Claiming incorrect/ineligible items.
Lack of supplementary information.

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IS MAKING TAX DIGITAL COMING OR WILL IT BE DELAYED?

By Insights

Making Tax Digital is set to create a significant change in the British taxation system. However, much discussion about a delay in its rollout has led to people wondering when MTD will finally come into action. So, what can we expect in the months to come? Is there likely to be a delay in the rollout of this new and often debated tax system? We’ll look at key topics around the debate such as:
What’s the present political take on Making Tax Digital?
Is the average business ready for an April 2019 rollout?
Making Tax Digital: the cause for a delay
What’s likely to happen?

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BREXIT FOR BUSINESS: WHAT ARE THE PRESENT IMPLICATIONS?

By Insights

The United Kingdom leaving the European Union (EU) is, without doubt, the biggest political event in decades. Ever since UK entry into the EU, however, there has been a lack of understanding and detail about how the partnership works. With the exit more likely than ever to take place, it’s still unclear just how exactly an exit from the EU would impact upon British VAT-registered businesses trading within the EU. We’ll take a look at the potential ramifications to come, including:
Registering for EORI
Arranging supply & shipping
Finding the correct expertise

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