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A potential emergency Budget in the context of a no-deal Brexit, and how it may affect SMEs

With no-deal Brexit looming large, the UK’s Federation of Small Businesses (FSB) has called for Chancellor Sajid Javid to propose an emergency budget to counter the threat of the uncertainty lying ahead. According to the FSB, this emergency Budget is crucial considering the current situation of a continually falling sterling and the likelihood of no-deal.[…] Read more »

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Calm before the storm? Financial Updates for July/August 2019

As the new government take shape, the latest July round of updates to our Key Guides are available, with the latest guidance from HMRC on Making Tax Digital for VAT, recommendations from the Office of Tax Simplification on the reform of inheritance tax and implications from recent IR35 employment status tribunal rulings.

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New VAT rules for building and construction services – The VAT Reverse Charge

From the 1 October 2019 the way that contractors and sub-contractors deal with VAT is changing for VAT-registered builders and contractors who either purchase or provide services. Whilst this is in principle an administration change it can impact on cashflows. Supplies that are affected: The domestic reverse charge will only affect supplies at the standard[…] Read more »

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