Tax rates and allowances are constantly changing. Tax planning opportunities are also wide ranging and changing, which is why it is important to make sure you are up-to-date. These guides are designed to provide the latest information but please contact us for guidance and advice.
For a wealth of advice and information relating to the operation of VAT, including essential tips for VAT planning, VAT schemes and how to survive the VAT inspector's visit.
The standard rate of VAT is 20% and it is envisaged that this rate will remain in force until at least 2015 and possibly beyond.
VAT was devised by a German economist in the 18th century and replaced sales tax in the UK in 1973.
IR35 relates to legislation and rules intended to apply a PAYE and NIC charge on earnings from a company or partnership which is termed an "intermediary." It is intended to prevent the lower rates of tax which would otherwise apply from being available to work which is regarded as "disguised employment".