Introduction of the reverse charge for construction services has been delayed and now takes effect from 1 October 2020. A business supplying goods or services is normally required to charge VAT and declare this to HMRC. However, with some UK specified supplies, the supplier does not charge and collect VAT on the supply. Instead, the customer is required to account for output tax to HMRC. This VAT is recoverable, subject to the normal rules and the mechanism is called the reverse charge.
KPIs are a necessary component of managing any charity as they allow you to keep track of your strategic objectives, but how do you ensure they are aligned to your organisation’s goals and offer the Board the information they need?
Business Property Relief (BPR) is a very valuable Inheritance Tax (IHT) relief for privately owned businesses and was subject to a recent review by the Office for Tax Simplification (OTS). This Insight highlights some key points to qualify for the relief.
While always ensuring we remain non-partisan, as tax advice is such a large part of our business here at Wilkins Kennedy, we have been watching the general election countdown with interest, taking particular note of the tax promises made on both sides of the house...
The increase in popularity of Airbnb and similar accommodation providers raises the question of how these kinds of activities should be dealt with from a VAT perspective. Andy Dawbarn, Indirect Taxes Partner at Wilkins Kennedy, considers the VAT implications arising for users of these types of sites…
Despite another extension to the Brexit date it is important for employers to consider the impact of the UK leaving the EU on their workforces, particularly those with employees working overseas in the EU, EEA or Switzerland. Although it being an unlikely outcome, in the event of a no-deal Brexit, there may be implications for UK employers who have employees working in the EU, the EEA or Switzerland.
Charitable and non-profit making bodies are often under pressure to maximise their income-generating activities through exploiting their assets to the maximum possible extent. Whilst the reason for doing this is entirely understandable, the associated potential tax consequences can be overlooked, which can, in turn, give rise to unexpected tax liabilities. In this article, John Howard, Partner and head of Not-for-Profit at Wilkins Kennedy provides some thoughts on the issues arising.
The draft reforms for the off-payroll legislation, commonly known as IR35 have now been published by the Government and are contained in the Finance Bill 2019-20.