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The VAT Flat Rate scheme is open to VAT registered businesses that expect their taxable turnover in the next 12 months to be no more than £150,000, excluding VAT. The annual taxable turnover limit is the total of everything that a business sells
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The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes.
In order to qualify as a furnished holiday letting, the following criteria need to be met:
The
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A reminder for our readers that the National Living Wage (NLW) and the National Minimum Wage (NMW) rates will increase with effect from 1 April 2024.
The increase will see the NLW rate increased to £11.44 per hour, an increase of over £1 over the
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As an employer, the tax and employment responsibilities you have for your staff will depend on the type of contract you give them and their employment status.
Contract types include:
full-time and part-time contracts
fixed-term contracts
agency