Energy Price Cuts

What does it mean for you and your business? Announced on Wednesday 21 September 2022, the government are providing a support package for businesses, which will see energy price cuts through a new Energy Bill Relief Scheme. The government will provide a discount on wholesale gas and electricity prices for all UK businesses. The scheme …

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VAT (Value Added Tax)

What is VAT and how is it applied? Becoming VAT registered is compulsory once your business’ turnover is more than £85,000 within a 12-month period. SeavorChartered can register your business and can also provide you with an end-to-end service which includes the preparation of your business’ VAT along with submission to HMRC. We can assist …

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Coronavirus Tax Payment Changes

Self-Assessment Income Tax Self-assessment income tax payers will be able to defer tax payments to January 2022. This is an extension from that initially announced moving the payment on account due by 31 July 2020 to 31 January 2021. VAT The VAT cut for tourism and hospitality industries to 5% will be extended from January …

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Coronavirus Mini Budget – July 2020

Coronavirus mini budget July 2020

The Chancellor Rishi Sunak delivered a mini-budget today as part of the next phase of government support in response to the impact of the Coronavirus on the UK economy. The main aim is to protect, support and create jobs. A summary of the key announcements are detailed below: Job Retention Bonus for employers Employers who …

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Deregistering for VAT

Deregistering for VAT When and how to begin the process of deregistration.

These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold.

Limiting your ambition in this way might seem counter-intuitive – surely you want your business to get as big as possible?

But it can make sense if you are seeking to make a sustainable living rather than get rich, perhaps by trading on online auction sites, or running a café with limited opening hours.

If your business’s turnover is predicted to fall below £83,000 over the next year, it can voluntarily deregister for VAT.

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September 2018 Newsletter

Our September newsletter brings information on HMRC confirming MTD will be relaxed during the first year for VAT-registered businesses, stamp duty tax breaks saving first-time buyers £284m, inheritance tax receipts reaching a record high of £5.2bn and SMEs citing VAT as their ‘biggest administrative headache’

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August 2018 Newsletter

Hello August …. whilst the temperature is cooling down a bit, we are keeping super busy and bring you this month’s newsletter with articles about the CEST tool, Tax incentives for longer term lets, a call for delaying the implementation of MTD and MP’s calling for a new tax to help cover the costs of caring …

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The Chartered Institute of Taxation

The Association of Taxation Technicians

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