Handpicked Accountants Network

By Natalie Ford

Neal Ford Chartered Accountants joins Handpicked Accountants The Neal Ford Accountancy team are delighted to announce that we are now part of the Handpicked Accountants network. Handpicked Accountants is a distinguished online platform that is home to the best performing accountants across the country. Selected with care, each accountant is assessed against criteria established to…

HMRC and Airbnb Collaborate

By Natalie Ford

HMRC will know about landlord lettings through Airbnb, so full disclosure of all your taxable property income is essential, including for all prior years.  The Airbnb UK accounts for the year to 31 December 2019 include a statement that the company will share data with HMRC about the earnings of hosts on its UK platform in the years 2017/18…

The Construction Industry Scheme (CIS) VAT Reverse Charge

By Natalie Ford

The chancellor confirmed that the CIS VAT domestic reverse charge measure will apply to supplies of construction work from 1 October 2020. When the reverse charge applies the customer accounts for the supplier’s output VAT. This measure only applies to construction supplies made by business to business.  Key conditions: Apply the reverse charge when all…

The Flat Rate VAT Scheme

By Natalie Ford

Limited Cost Trader The limited cost trader category was introduced on 1 April 2017, and its high rate of 16.5% gives minimal credit for input tax. It has wiped out many gains enjoyed by service-based businesses that spend less than £250 a quarter on goods, or less than 2% of their gross turnover. Don’t forget…

Budget 2020

By Natalie Ford

Coronavirus £5bn emergency response fund to support the NHS and other public services Statutory sick pay will be paid to all those who are advised to self-isolate, even if they have not presented with symptoms Self-employed workers who are not eligible for sick pay will be able to claim contributory Employment Support Allowance The ESA…

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