The autumn statement outlined key measures on the government borrowing, infrastructure and housing. Some of them are outlined below. Government Borrowing Point at which debt predicted to begin falling delayed by a year to 2016/17. Deficit forecast to fall this year, as is cash borrowing. Deficit to fall from 7.9% to 6.9% of GDP this […]
HMRC’s decision to commence business record checks has not been greeted with complete enthusiasm. According to the Chartered Institute of Taxation, there will be many problems of interpretation. It also makes the serious point that HMRC still intend to charge penalties in year, where their power to do this is at least doubtful.
VAT done based on cash accounting offers benefits to small businesses, However, this will only be momentarily. When your turnover reaches the limit you’ll have to leave the scheme. The cash accounting scheme is a simple way for businesses to improve their cash flow. It allows you to defer accounting for VAT until the quarter […]