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Davis & Co - The Minimum Pension Age

HMRC have scrapped paper VAT registrations

Written by davis on . Posted in Uncategorised. Leave a Comment

The new rules came into effect from 13 November as part of HMRC’s Making Tax Digital (MTD) strategy.  Taxpayers will have to register for VAT through the online VAT Registration Service using their Government Gateway account. However, some types of business will not be able to use the service as the online service still needs to be expanded to cover businesses joining the agricultural flat rate scheme, overseas partnerships and entities without a unique tax reference (UTR) number.  It is important to note that if a taxpayer has a particular exemption, they will have to contact HMRC...

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Davis & Co - The Minimum Pension Age

Buy-to-lets in a high-interest era 

Written by davis on . Posted in Uncategorised. Leave a Comment

Let’s look at the tax implications for landlords of buy-to-let properties after interest rates have risen significantly in a little over a year. The Bank of England base rate was a mere 0.1% in September 2021 and stayed there until the end of that year.   At the time of writing (November 2023) it is now 5.25%. Some of us are old enough to remember when mortgage rates reached more than 15% p.a. but I don’t think we have ever seen base rates rise by more than 5,000% in such a relatively short period of time.   What are the implications for a tax regime last reformed at a time when...

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