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How to celebrate St George’s day: Buy British

Phil Mullis

Phil Mullis

Today is St. George’s day and while you may not be taking time off work or going on holiday to celebrate this national day, there are many other things that you can do in the memory of England’s patron saint. … Read More >>

Retail

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New starter adds to growing team at South Coast firm

Top-20 UK accountancy firm, Wilkins Kennedy LLP’s, has just announced a new addition to the team, Nicola Holmes, who brings a wealth of experience to her new role at the firm as VAT Manager.

With many years of experience in dealing with complex VAT issues, Nicola has developed strong key skills in VAT compliance and training. Before joining Wilkins Kennedy she has worked for HMRC and two major professional service firms.

Tax Dates

7 May 2015

UK General Election

31 May 2015

Foreign Account Tax Compliance Act (FATCA) returns due (Calendar Year 2014)

1 June 2015

Small businesses to consider compulsory enrolment of staff in workplace pension

WK Tax Factor

Prompt Payment Discounts

From 1st April 2015 VAT law in connection with prompt payment discounts is changing. The changes will not only affect those businesses that offer prompt payment discounts to customers but also those who receive invoices offering a prompt payment discount.

The current VAT legislation is relatively simple with the amount of VAT declared on the invoice as well as the amount of VAT the recipient of the supply can treat as input tax being calculated on the discounted price. The amount of VAT does not change even if the prompt payment discount is not taken up by the customer.  - See more 

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