If a company has stopped trading and has no other income then HMRC should be informed that it’s dormant for Corporation Tax purposes. HMRC can also send a notification if they think a company is dormant. This notice will state that a company or
The assessment of self-employed or partnership profits is relatively straight-forward if the accounting date, to which accounts are prepared, falls between 31 March and 5 April. However, year ends that fall outside these dates create overlap profits.
The Supreme Court has dismissed HMRC’s appeal in a long running case between the BPP Group of companies (who provide professional and academic education) and HMRC. The case initially centred on the VAT liability of supplies of books and education by
The taxable turnover threshold, that determines whether businesses should be registered for VAT is currently £85,000.
Businesses are required to register for VAT if they meet any of the following conditions:
At the end of any month, the value of