HMRC has announced a one-year delay to the introduction of the VAT domestic reverse charge (DRC) for building and construction services. The DRC was set to come into effect on 1 October 2019. It has now been pushed back 12 months to 1 October 2020, due to fears that...
Don’t leave it until the last minute, especially in 2020. With only two months left until the 31 January deadline for online returns, self-assessment is very much on our minds. There’s a first flurry of activity around the deadline for paper filing at the end of...
From 6 April 2020, a major shake-up of the off-payroll (IR35) rules is expected. Draft legislation has already been published, though final details and HMRC guidance are still to come. The new regime will affect you if you work via your own personal service company...
At the recent Xerocon at the London ExCel we heard from various Xero product partners and app partners on their exciting new products for 2020. Xero announced a suite of features targeted towards small businesses, the most exciting one being Business Snapshot – this...
A few of the Horsfield & Smith team recently travelled to London to attend the two day Xerocon at ExCel – namely, the Glastonbury for Accountants! Event Recap We heard from keynote speakers: Xero’s CEO, Steve Amos and Managing Director for Xero UK and EMEA, Gary...
Making Tax Digital for VAT (MTD for VAT) is up and running. Most VAT-registered businesses with taxable annual turnover above £85,000 will now be signed up to HMRC’s new system. This requires digital records to be kept, and VAT returns to be filed using MTD for...
