Sales Tax Implications of Selling in the USA using Amazon FBA

UK sellers already using Amazon FBA services will already know that storing and despatching goods from another European State triggers ...
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Last chance to claim enhanced capital allowances

There is a special scheme known as the enhanced capital allowances (ECA) scheme for energy-saving technologies. The ECA scheme enables ...
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Waivers of remuneration

A waiver of remuneration happens when a director or an employee gives up their right to salary or other cash ...
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Furnished holiday let qualifying tests

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a ...
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Tax when partnership assets are distributed in kind

Partnerships are treated as transparent for Capital Gains Tax (CGT). This means that each partner is responsible for their share ...
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HMRC’s tax app

A free HMRC tax app is available to taxpayers. The APP can be used to see: your tax code and ...
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Basic business structures

It is important to be aware of the main basic business structures available if you are considering starting a new ...
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Employing staff for the first time

There is a multitude of rules and regulations that you must be aware of when you start employing staff for ...
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Increase in National Living Wage?

An independent review into the evidence on minimum wage rates has been published by the government. The review concludes that ...
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We Are Moving

Business is good so we’re expanding and moving our location to accommodate our growth. We will close our office Friday, ...
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The meaning of ‘goodwill’ for CGT purposes

The meaning of goodwill for CGT purposes is complex. The term 'goodwill' is rarely mentioned in legislation and there is ...
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What is a joint venture?

A joint venture is a commercial enterprise undertaken by two or more parties who otherwise retain their separate identities. The ...
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Transfer of business as a going concern

The transfer of a business as a going concern (TOGC) rules cover the VAT implications when a business is sold ...
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Interest on children’s savings

All children in the UK have their own personal annual tax allowance. However, anti-avoidance laws prevent this allowance being utilised ...
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Employing someone to work in your home

When you employ someone to work in your home, it is your responsibility to meet the employee's rights and deduct ...
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What is a negligible value claim?

A negligible value claim is a claim made by a taxpayer when an asset they own has become of negligible ...
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Finance Bill 2019-20 shelved

The Government’s draft finance bill has been shelved as we countdown to the general election on 12 December 2019. The ...
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Tax Diary November/December 2019

1 November 2019 - Due date for Corporation Tax due for the year ended 31 January 2019. 19 November 2019 ...
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Sale of income for a capital sum

A capital sum received by an individual in respect of the sale or relinquishment of income - derived from his ...
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Pecuniary liability treated as income

A pecuniary liability can occur when a monetary obligation is fulfilled by an employer, when by law, the liability was ...
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Using the cash basis for property businesses

The cash basis scheme helps sole traders and other unincorporated businesses benefit from a simpler way of managing their financial ...
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Costs you can claim against your self-employed business

If you are self-employed it is important to be aware if an expense is allowable for tax deduction purposes or ...
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What you must do when charging VAT

When you issue a VAT invoice to your customer, you must ensure that you charge the correct rate of VAT ...
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Just under 100 days to go

HMRC has published a news release to remind you that there is now less than 100 days to file your ...
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Coding out debts deadline

You can have tax underpayments collected via an adjustment to your PAYE tax code, provided you are in employment or ...
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November Budget cancelled

Sajid Javid has cancelled the Budget that was due to be presented to Parliament 6th November. As the UK will ...
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Why does E-Commerce Accounting Present a Different Challenge?

E-Commerce accounting is actually unique and has challenges that accounting for other businesses doesn’t have. Here’s why…… VAT and GST ...
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Compensation limits for bank deposits

What happens if your bank becomes insolvent and you stand to lose any funds deposited? The bank deposit guarantee limit ...
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Making Tax Digital (MTD)

Since April 2019, VAT registered businesses with a turnover above the VAT threshold need to keep digital records for VAT ...
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What is a Close Company?

A Close Company is broadly defined as a company that is controlled by: five or fewer participators or any number ...
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Tax deducted from payments by companies

Under certain circumstances, companies (including non-resident companies trading from a branch or agency in the UK and local authorities) can ...
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Lump sums paid in continuing employment

A lump sum payment can sometimes be made in lieu of all or part of an employee’s salary, wage, commission ...
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Tax implications for construction industry

If you run a construction business and secure the services of sub-contractors, or if you are a building sub-contractor, you ...
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What is a reasonable excuse?

There are a number of options if you find yourself in disagreement with a tax decision issued by HMRC. As ...
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Win while you save

HM Treasury has announced the trial launch of a new PrizeSaver account with participating credit unions. The new account was ...
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31 October paper Self-Assessment filing deadline

The 2018-19 tax return deadline for submitting your paper Self-Assessment returns is 31 October 2019. Late submission of a Self-Assessment ...
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Using KPIs to Improve the Performance of Your E-Commerce Business

Monitoring your Key Performance Indicators (KPIs) will help you on the road to online retail success. Organisations use KPIs at ...
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What does the Queen’s Speech mean for employment law?

The Queen’s Speech 2019 outlined several Brexit-related Bills, including an Immigration and Social Security Co-ordination (EU Withdrawal) Bill, designed to ...
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Simplified import procedures

HMRC has automatically registered many businesses to use simplified import procedures should the UK leave the EU without a deal ...
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Definition of a Scottish taxpayer

The Scottish rate of Income Tax (SRIT) commenced on 6 April 2016 and is administered by HMRC on behalf of ...
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Definition of a Welsh taxpayer

The start of the 2019-20 tax year marked a fundamental change to the way Income Tax is calculated for people ...
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Gifts in anticipation of marriage

There is a special exemption from Inheritance Tax for cash gifts made on or shortly before the date that the ...
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Provisional date announced for Autumn Budget 2019

The Chancellor of the Exchequer, Sajid Javid, has announced that he is planning to hold his first Autumn Budget 2019 ...
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Tax if you return to the UK

There used to be a form that had to be completed advising HMRC if you were returning to live in ...
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Who is eligible for 10% tax on business sale?

Entrepreneurs' Relief (ER) can be valuable relief when selling your business, your shares in a trading company or your interest ...
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National Living/Minimum Wage entitlement

A reminder that the current National Minimum Wage (NMW) and National Living Wage (NLW) rates came into effect on 1 ...
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New £20 note unveiled

The Governor of the Bank of England, Mark Carney, has unveiled the design of the new £20 note featuring the ...
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Are you getting the VAT treatment correct for E-commerce transaction charges?

It is clear from questions being posted on forums that there is a lot of mis-understanding over the VAT treatment ...
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