Reverse charge on construction services: Frequently asked questions
These FAQs supplement our article on Reverse Charge for Domestic Construction Services that we previously published on our website. That article explains the basic rules and is not superseded by this list of FAQs. 1. How does the reverse charge work? If you supply services within the reverse charge, you do not add VAT to your […]
Reverse charge for domestic construction services
Written by Tax Consultant, Ian MacGillivray As from 1st March 2021, those involved in construction services in the UK will, if their services fall within the relevant criteria, have to operate the reverse charge (RC). They will have to decide whether the procedure applies. If it does, its effect is to shift the responsibility to […]
Overseas companies owning UK property: Beware of the corporate interest restriction
Written by Tax Partner, Thomas Adcock Thomas Adcock, Tax Partner at Gravita, explains why UK property groups need to be aware of the corporate interest restriction as well as potentially avenue of relief in the form of the public interest exemption. This restriction was introduced in response to the OECD’s BEPS (Base Erosion and […]
Tax Exemptions for religious leaders
This article was first written for and published on AccountingWEB. To mark World Religion Day, we explore the tax exemptions for individuals who receive income for their duties as a religious leader, which is normally taxed as employment income. Both the tax legislation and HMRC manuals use either the term ‘minister’ or ‘clergyman’. Both often […]
A guide to submitting a Self Employed Income Support Scheme claim (SEISS)
HM Revenue and Customs (HMRC) have now updated their guidance so that self-employed individuals can log in to check their eligibility for the SEISS. HMRC will provide a time and date from which an eligible individual can apply for the SEISS. We have put together a guide which you can follow to check your eligibility […]
Non-UK resident companies: What’s changed?
Non-UK resident landlord companies coming within the scope of UK corporation tax. Non-UK resident companies that carry on a UK property business are currently within the scope of non-resident company income tax returns (Form SA700) and the taxes due are calculated on the chargeable profits of the tax year. However, 2019/20 is the final tax […]
The CIO as a charitable structure: the pros and cons
As experts within the charity sector, we wanted to share our experiences in advising and setting up charities as a Charitable Incorporated Organisation (CIO). Jointly with Henmans Freeth we held a roundtable discussion with voluntary organisations – including some who have taken the plunge and created CIOs – at Henmans Freeth in Oxford last week. […]