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eBaying the rules of online taxation

Phil Mullis

Phil Mullis

Lots of people declare that their business is also their hobby, but if you trade goods and services online regularly, you have to be certain that HMRC knows you are in business and if profitable, liable to tax. HMRC know …

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Income tax | Retail | Tax

Latest Press

Wilkins Kennedy announces finalist positions at payroll awards

Top-20 UK accountancy firm Wilkins Kennedy is pleased to announce two finalist places at the prestigious Payroll World Awards 2015. Wilkins Kennedy has been nominated for the “Payroll Provider” category with Sam Spicer from the Orpington payroll team nominated as a “Rising Star”. The eager staff and Partners are hoping to take the winner’s crown at the glamourous Payroll Awards Gala Dinner on 12th November. The judges, who include some of the top HR and Payroll specialists from several well-known firms, will be looking for outstanding achievements from the firm, demonstrated with real life case studies as well as examples of excellent team work and where dedication has come in to play.

Tax Dates

5 August 2015

First report due to HMRC by employment intermediaries which place workers who are neither direct employees nor treated as employees (subject to confirmation in regulations)

1 September 2015

Reminder to ensure CPD requirements fulfilled by end of year. CIOT: minimum 90 hours CPD per calendar year (at least 20 hours of non-reading). ATT: minimum 45 hours CPD per calendar year (at least 15 hours of non-reading

1 October 2015

Transitional arrangements for zero-rating of approved alterations to protected buildings cease to apply 

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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