Entries by covertaxadmin

Brexit – tax on consumption – principle must be protected

Here’s an interesting article from one of our colleagues, Alan Powell, a specialist excise duties consultant. We refer all of our excise work to him. At the very moment Britain prepared to vote for Brexit, the EU court (CJEU) was giving a massive boost to the beleaguered UK alcohol excise industries by confirming a simple […]

Brexit – concerned and bemused of Coventry

Recently we have seen a stronger than ever hint that there may be a two year (possibly three) transitional period from March 2019. Sadly, there was little flesh behind this, but the inclination is to believe that the UK will continue to benefit from regimes similar to the Single Market and the Customs Union. I’ve […]

Brexit – where are we now?

The honest answer would seem to be that nobody has got a clear idea.  Many are espousing opinions, but it seems that even those negotiating on behalf of the United Kingdom do not know what they aim to achieve, or at least have no intention of telling UK businesses and citizens what they are up […]

The dog ate the books  

In the last Tax Tip, we looked at time limits in VAT.  In this one we’re looking at time limits for direct taxation.  And there are some differences. Here we are looking at Income tax, PAYE, Capital Gains Tax and Corporation Tax. The regular time limit for assessment (as well as refunds and claims) is […]

It ain’t over until the fat lady sings

This peculiar phrase originated in the United States of America, but has come into popular use in the UK. It normally means the game is not over until the final whistle or something similar. But equally, we know that when the fat lady has sung (one attribution of the saying is that it came from […]

Brexit – Render to Caesar

Some years ago I used this quote only to be brought up short by my former business partner, Tony Borman, who knows his bible, and he asked me to read that part in full. I’m not a religious man, but I was intrigued by the text: – “And they sent to him some of the […]

Brexit – What did the Romans ever do for us?

First, whilst the UK Government has not made this plain, the intention is to retain VAT in the UK and, reading between the lines, in its current form.  That is a relief as, for example, trying to change systems, including invoicing routines, by 31 March 2019 would be a tall order even for the most […]

International Trade – the Customs Union and the UK

First of all, apologies in advance if we’re teaching our grandmother to suck eggs. However, we thought it would be helpful to set down a “simple” explanation of one of the current issues of our time – the Customs Union. The Single Market is not the same as the Customs Union.  The Single Market is […]

A budget for small businesses?

The recent budget was noteworthy for being light on content.  Small businesses however will probably feel as though someone stole their sweeties after being hit by a triple whammy of costs and charges Firstly of course, there was the now notorious increase in Class 4 National Insurance.  Many small businesses had been looking forward to […]