The following is a quote from the UK government, which spells out why the UK R&D tax relief scheme needs to be changed.
‘The UK has one of the most generous R&D tax relief systems in...
VAT On Marshmallows
Written by Tony Shackleford on .
The starting point for VAT is that sales are subject to standard rated VAT (currently 20%). However sales of food are zero rated , but sales of biscuits and confectionery are standard rated.
A...
Directors’ Liability From Insolvent Companies
Written by Tony Shackleford on .
One of the major reasons for trading through a limited company, as opposed ot being self employed or being in a partnership, is that the owners / managers of the company are generally not liable...
Directors liability, Directors liability. Insolvency, Tax on insolvency
VAT Changes for Sales on Amazon, Ebay etc
Written by Tony Shackleford on .
From 1 July 2021 platforms such as Amazon and Ebay are responsible for ensuring that VAT is collected on sales of goods on their platforms.
In simple terms, this means that when a buyer purchases...
Holiday Pay Entitlement
Written by Tony Shackleford on .
For several years all UK full time employees have been entitled to a minimum of 28 days paid annual leave per year. Part time employees entitlement is similar, hence a part time employee who works...