Tel: 07712 856364
Email: jon@proactive-accounting.com
What is Making Tax Digital for Income Tax (MTDIT)? Making Tax Digital for Income Tax is HMRC’s latest attempt to gain direct digital access to client’s records by replacing the once year self assessment tax return with five income tax returns every year – 4 submitted every 3 months and one final return which will…
Fifth Covid-19 Grant & Updates Please read the eligibility criteria section below even if you did not qualify for the previous SEISS grants as the newest grant is much more accessible than the first four grants and can now be claimed by new businesses. The government have recently published some guidance on how to claim…
From 1 March 2021 HMRC introduced the VAT Domestic Reverse Charge rule. This scheme is designed to shift the VAT liability which needs to be paid over to HMRC from small subcontractor businesses to larger companies. Under this new scheme, where the other conditions are met, a CIS subcontractor is no longer obligated to charge…
In line with yesterday’s budget there are a few things that everyone should be aware of. We’ve done our best to keep this as brief and easy to read as possible, there are ample guides elsewhere which can summarize the budget in more technical language. Most of the information thus far comes from the chancellors…
For those working in the construction industry, the compliance requirements of the Construction Industry Scheme needs to be coped with. At Proactive Accounting, we can assist you to comply with the onerous requirements of the Scheme for your business in the Co. Antrim area. The Construction Industry Scheme (CIS) sets out special rules for tax…
Research and development (R&D) by companies is being actively encouraged through a range of tax incentives including an increased deduction for R&D revenue spending and a payable R&D tax credit for companies not in profit. At Proactive Accounting, we can provide R&D advice for your company in the Co. Antrim area. Research and development (R&D)…
We summarise what situations are caught by the special rules that apply to some personal service companies and the implications of the rules. At Proactive Accounting, we can help check whether the regime may apply to your company if you live or work in the Co. Antrim area. The ‘IR35’ rules are designed to prevent…
There are tax planning opportunities available to husband-and-wife businesses, but care needs to be taken. If you are in the Co. Antrim area, Proactive Accounting can guide you through the options. This article provides an overview… HM Revenue & Customs (HMRC) has shown great interest in businesses where both spouses are owners (either as shareholders…
Self-employed and working from home? Some of the costs of the home can be claimed against tax and, in some cases, these costs may be considerable. We set out types of costs that may be relieved here but at Proactive Accounting, we can advise on maximising the relief due to you if you live in the…
Employers in the Co. Antrim area sometimes ask Proactive Accounting about classifying workers as employed or self employed – a surprisingly complex issue. Here is an overview of the key points. The question as to whether someone is employed or self employed is not as straightforward as it might at first appear. Many people assume…
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