The domestic reverse charge, commonly referred to as the reverse charge, is a major change to the way VAT is collected in the building and construction industry and will affect both suppliers and customers that are both VAT and CIS…
Updated March 2021 Businesses across the UK have already utilised the Government’s Brexit Grant Scheme to receive fully funded training in customs declarations and processes. The funds have now been fully allocated; however, a further £20 million funding will be…
Are you and your spouse using your personal allowance and lower rate bands in full? The higher rate threshold increased to £37,700 from 6 April 2021 meaning that people can earn £50,270 before paying tax at higher rates. Transfers of…
With the 2020/21 tax year drawing to an end, it’s a good time to ensure that you are minimising your tax liabilities by maximising your reliefs and exemptions. PKF Francis Clark has produced a personal tax year-end planning guide which…
From 1 January 2021 consignments of goods with a value of £135 or less that are outside the UK and sold through an OMP to customers in Great Britain, (England, Scotland and Wales), will have UK supply VAT charged at…
From 1 January 2021, consignments of goods with a value of £135 or less that are outside the UK and sold directly to customers in Great Britain, (England, Scotland and Wales), will have UK ‘supply VAT’ charged at the point…
The VAT domestic reverse charge, commonly known as the reverse charge, for building and construction services is being introduced from 1 March 2021. You will need to prepare for this change by: Checking whether the reverse charge affects either your…
The end of the transition period has brought about the most fundamental change in the UK’s trade policy in a generation. The UK (with the exception of Northern Ireland) is now no longer part of the EU Single Market or Customs…
With recent guidance and clarification from the government and with little time left before the end of the transition period we have compiled various factsheets and FAQs. This factsheet explains the basics and points you to other relevant factsheets which…
On the 1 January 2021, the UK will no longer be considered an EU Member State following the end of the transition period. We have pulled together our top Frequently Asked Questions and answers in the factsheet below.
