Well the good news is that it doesn’t now apply to any tolls paid by commuters – business or personal – crossing on the Severn Bridges from the 8th January 2018. (more…)
Broomfield & Alexander have been working extensively with our clients to move them to accounting software systems. This is in preparation for April 2019 when HMRC will expect VAT registered businesses to be able to pass their VAT return data across directly to HMRC in a digital format.
Liz Maher from Centurion VAT Specialists team – who works with us in supporting our Charity Sector clients – has passed news to us of a significant VAT change which will impact across the sector. (more…)
In the last few weeks I have seen two businesses that have been using the VAT flat rate scheme that would be far better off outside the scheme. Why is this? The flat rate scheme is a simplification introduced by HMRC to help small businesses account for VAT more simply. However as a simplification, it is not the best route for every business. (more…)
Theresa May’s declaration that the UK is to leave the single market brings with it a whole host of VAT and Customs Duty challenges which we recommend that businesses start planning for now, as there will be increased compliance and complexity to deal with. (more…)
With income and margins continuing to be squeezed in the agricultural sector for a number of reasons, many businesses are looking to diversify to generate additional income.
Common examples of diversification include the selling of produce, whether primary or value added and providing leisure accommodation either in the main farmhouse, converting unused buildings or developing a campsite.
The benefits of diversification are the greatest if it can be achieved with minimal increase to the cost base. However, it is important to get some key aspects right at the start to minimise risk to the overall operation.