VQOTW: CHANGE IN POLICY FOR RETAINED DEPOSITS

VQOTW: CHANGE IN POLICY FOR RETAINED DEPOSITS

VAT l

My client and her husband run a boutique hotel in partnership. Due to the location and quirky nature of the décor, they are increasingly getting requests to host celebrations and parties in addition to overnight accommodation. As the financial outlay in preparing and staging the events can be quite considerable, the client asks for a 25% deposit up-front, which is non-refundable if the event is cancelled. Please, could you advise on the VAT treatment and time of supply implications of these deposit payments?

January 2018 Tax Insider

Tax, Tax Insider l

Included in this months article:

– Businesses getting to grips with apprenticeship levy
– R&D investment grows to £23.7bn in 2016/17
– OTS calls for inheritance tax system to be digitised
– Critics urge delay in rollout of MTD

Read The Full Article Here

National Insurance Planning

National Insurance l

National insurance contributions (NICs) are set aside to pay the state pension and other benefits, but due to the UK’s ageing population the National Insurance Fund is under increasing strain, with the state pension taking up more than 90% of its annual outlay in 2018.

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Outsourcing Payroll

Payroll l

Does it make sense for your business?

Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll.

Read The Full Article Here