Cash transactions between a director and a personal or family company are recorded through the director's account. At the end of an accounting period, if the director owes the company money (ie the account is considered overdrawn), and the company is close (broadly, one that is controlled by ...

The Government is urging businesses to sign up to the Trader Support Service (TSS) before the end of the Brexit transition period. The new service provides a free-to-use digital platform to help businesses and traders of all sizes navigate the upcoming changes to the way goods moved under ...

Although there is no official Budget statement this Autumn, HMRC have published details of a series of measures affecting tax. Some of the changes will take place straight away or from April 2021, others are to be consulted on and included in draft Finance Bill 2021. The key announcements are ...

HMRC have recently clarified the correct treatment for the deduction of import VAT paid by a taxable person who is not the owner of the relevant goods. Following the publication on HMRC Brief 2 (2019), which restated the long-standing policy of who is entitled to reclaim VAT ...