SME businesses at risk sponsor licence revocation

Up to 95 per cent of SME businesses risk sponsor licence revocation for migrant workers and many are also at risk of instant Home Office closure, new research finds. Just months before the UK is scheduled to leave the EU in March 2019, less than 25 per cent of SME companies are aware of the

The post SME businesses at risk sponsor licence revocation appeared first on Small Business.

Source: SmallBizUK

Detailed guide: Disguised remuneration: a Supreme Court decision (Spotlight 41)

The Supreme Court decision

In their decision, the Court agreed with HM Revenue and Customs (HMRC) that the tax avoidance scheme used by Rangers Football Club doesn’t work. They said that Rangers should have deducted Income Tax and National Insurance contributions from payments they made to the scheme, which was an employee benefit trust (EBT).

In paragraph 39 of the Court’s decision, they set out the principle that employment income paid from an employer to a third party is still taxable as employment income.

What this means for similar disguised remuneration schemes

HMRC’s view is that this principle applies to a wide range of disguised remuneration tax avoidance schemes, no matter what type of third party is used. This includes:

  • EBTs – including variants within these schemes where no loans are made from the EBT but instead the funds remain in, or are invested by, the trust
  • disguised remuneration routed through employer-funded retirement benefit trusts
  • a range of contractor loans schemes

The facts of each case will determine where the earnings point arises based on decided case law.

What could happen if you use one of these schemes

HMRC intends to use this decision to take action against many of the disguised remuneration schemes using the full range of our available tools. This will include HMRC considering, in appropriate cases, whether to issue follower notices and, if relevant, associated accelerated payment notices.

It will also include accelerating litigation where users choose to continue challenging HMRC on their scheme.

What to do if you think you’re using a disguised remuneration scheme

HMRC strongly advises you to withdraw from the scheme and settle your tax affairs. You’ll avoid the costs of legal action and minimise interest and penalty charges on the tax you should have paid.

If you’re already speaking to someone in HMRC about the use of an avoidance scheme, or have a customer relationship manager, you should contact them.

If you don’t have a contact and think you’re in one of these schemes, to settle your tax affairs you should email ca.admin@hmrc.gsi.gov.uk.

Find out more about how to identify tax avoidance schemes.

Source: HMRC

Forgotten voice of UK business have their say for first time

On the day the Office for National Statistics confirms official growth figures for the UK economy, a new report reveals the views of a vital yet often forgotten lynchpin of British business, both big and small – the van drivers, owners and operators who keep the wheels of business turning. The phased study – begun

The post Forgotten voice of UK business have their say for first time appeared first on Small Business.

Source: SmallBizUK

Detailed guide: Help and support for VAT

Available webinars are listed by subject and can last up to an hour.

To attend an upcoming live webinar, register and sign in at least 5 minutes before it starts.

You can ask your host questions during live webinars using the on-screen text box.

Introduction to VAT

Catch up with the latest available introduction to VAT webinar to find out about:

  • what VAT is and how it works
  • when you need to register
  • what you must do once you’re registered

Use the online course about getting started to find out:

  • when to register for VAT
  • rates of VAT
  • case studies

When you’ve registered

Watch YouTube videos about:

Catch up with the latest available webinar now that you’re registered for VAT to find out about:

  • what VAT is
  • VAT rates
  • what you need to do now you’re VAT registered

Use the online course about how VAT works to find out about:

  • charging VAT
  • reclaiming VAT
  • VAT Returns and payments

Accounting schemes

Catch up with the latest available webinar for accounting schemes to find out about:

  • choosing the right scheme for your business
  • the annual accounting scheme
  • the cash accounting scheme
  • the VAT Flat Rate Scheme

VAT Flat Rate Scheme

Catch up with the latest available VAT Flat Rate Scheme webinar to find out:

  • what to do if you have more than one business
  • when you can reclaim VAT on capital expenditure goods

How to complete your VAT Return

Watch a YouTube video about how to submit your VAT Return online.

Catch up with the latest available webinar for how to complete your VAT Return to find out:

  • how and when to submit your VAT Return
  • useful tips on how to complete your VAT Return

VAT on motoring expenses

Catch up with the latest available webinar for VAT on motoring expenses to find out when you can reclaim VAT on:

  • cars
  • hired and leased vehicles
  • commercial vehicles
  • other motoring expenses

VAT refunds for government departments, arms-length and NHS bodies

Catch up with the latest available webinar for
recovery of VAT
to find out:

  • when VAT can be reclaimed for contracted-out professional services (under ‘COS heading 52’)
  • what to do if you have more than one contracted-out service
  • how to get further help

VAT on goods when trading with other countries

Catch up with the latest available webinar for VAT on goods when trading with other countries to find out how to deal with VAT:

  • when you’re buying goods from and selling goods to other countries
  • for EU and non-EU trade

VAT on the supply of services when trading with other countries

Catch up with the latest available webinar for VAT on the supply of services when trading with other countries to find out:

  • how to deal with VAT when you’re supplying to and receiving services from other countries
  • EU and non-EU trade

Source: HMRC

Getting third-party verified is high on mobile media buyers’ agenda

Today, GroundTruth (formerly xAd), the global location technology company that drives results with real data, reveals that while third-party measurement across mobile is on the rise, less than a quarter (24 per cent) of mobile media planners are using third parties to measure and validate their data. Amid marketing leaders’ calls for stronger measurement following

The post Getting third-party verified is high on mobile media buyers’ agenda appeared first on Small Business.

Source: SmallBizUK