K A MOORE
CHARTERED CERTIFIED ACCOUNTANT
Practice Introduction and News
1 October 2019, VAT: The Construction Services Domestic Reverse Charge (“CSDRC”)
CSDRC applies to transactions wholly within the UK. Like similar rules that have applied for some time to supplies of certain high-risk goods such as mobile phones and computer chips.
The new regulations are intended to counter “missing trader fraud”. This is where a trader reclaims as input tax on purchases an amount of VAT that the supplier has no intention of ever paying over to HMRC.
Please contact this practice if you require any further information.
Addendum: The domestic reverse charge for building and construction services due to be introduced nationwide on October 1, 2019 is to be delayed for another 12 months, until October 1, 2020.
Making Tax Digital
The first to be affected will be small businesses and individuals with a turnover above the VAT threshold of £85,000, who will be required to keep digital records for VAT purposes from April 2019.
To comply with Making Tax Digital (MTD) businesses will need to keep digital accounting records and provide that digital information to HM Revenue & Customs (HMRC).
Further information available here:Making Tax Digital
GDPR
The GDPR forms part of the data protection regime in the UK, together with the new Data Protection Act 2018 (DPA 2018). The main provisions of this apply, like the GDPR, from 25 May 2018.
Further information available here: GDPR
Current and other news available here: News
From a hamlet in a shire, I provide accountancy and taxation services, as well as payroll, bookkeeping and VAT services to a variety of clients across Leicestershire and surrounding areas.
An efficient, friendly and professional chartered certified accountant and micro entity business specialist for owner managed businesses, limited companies, partnerships, sole proprietors / traders and private individuals.
This practice keeps up to date with current business and taxation developments together with innovations in modern technology and software and can advise on cloud accounting, cloud payroll and making tax digital.
Please do not hesitate to contact me for further information.
Telephone / Message: 0770 305 7050 Email: kam@kamoore.co.uk