Import VAT at 20% applies to goods entering the UK from the EU on consignments over £135, but VAT-registered businesses can use Postponed VAT Accounting
Employment Allowance lets eligible employers reduce their Employer’s NI bill by up to £10,500 each tax year. Key Takeaways Previously, employers could only claim if
What Is HMRC? – HMRC (His Majesty’s Revenue and Customs) is the UK’s tax authority, collecting and managing taxes while funding schools, healthcare, and infrastructure.
Postponed VAT accounting (PVA) lets you handle import VAT through your VAT return instead of paying it at customs. You declare and immediately recover import
A free trade agreement (FTA) is a deal between countries to make trading with each other simpler. By cutting taxes (tariffs), limits (quotas), and other
MTIC fraud (short for Missing Trader Intra-Community fraud) is a type of VAT fraud that happens when businesses exploit rules on cross-border trade within the
An EMI scheme (Enterprise Management Incentive) is a tax-advantaged share option plan used by UK companies. The scheme lets businesses grant selected employees the right to
Taxable benefits are non-cash rewards or payments that have a value and are treated as part of your income. These can include: Taxable benefits exist
EIS stands for Enterprise Investment Scheme. SEIS stands for Seed Enterprise Investment Scheme. Both are tax relief schemes from the UK government and both help
Bank feeds are automated systems that allow your bank transactions to be imported directly into your accounting software or financial management tools. Instead of manually
