Or a lesson for Contractor Accountants in when not to use an EBT (employee benefit trust). If, like me, you follow Scottish football with the same enthusiasm a hamster has for tank warfare – you may have missed the tax debacle north of the border. Before I go into what it all actually means –
What is the VAT Flat Rate Scheme? Any business in the UK with a turnover of more than £73,000 must be registered for VAT. This means adding on 20% VAT to your normal sales invoice and paying the 20% VAT over to the VAT office. However, there is a scheme called “The Flat Rate Scheme”
I had two phone calls on Friday from new prospective clients. Nothing unusual in that, but I believe (maybe wrongly) they are both going for the same role or at the very least, working for the same company. What I found strange was that person “A” described herself as a contractor and person “B” described
Or a lesson for Contractor Accountants in when not to use an EBT (employee benefit trust). If, like me, you follow Scottish football with the same enthusiasm a hamster has for tank warfare – you may have missed the tax debacle north of the border. Before I go into what it all actually means –