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In Go City Limited vs HMRC, the first tier tribunal (FTT) couldn’t see the attraction in HMRC’s four assessments of a leisure-pass business to VAT totalling £9,309,954. The taxpayer sold leisure passes to consumers. The passes entitled the consumers to use credits to visit certain attractions operated by third parties. Each pass contained a certain number…
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If you’re a self-employed business owner, you will need to choose a type of accounting you prefer when registering with HMRC: cash basis or traditional. In this guide, we’ll be explaining what the differences are and how to decide which is best for you and your business. What is Cash Basis Accounting? Businesses that use…
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HMRC is adopting a geographic approach in its bid to tackle SMEs not complying with national minimum wage rules, the complexity of which is causing concern. Small or medium-sized enterprises (SMEs) are being targeted as HMRC ramps up its crackdown on national minimum wage (NMW) non-compliance, with the enforcement being so prevalent because of “how complex the…