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Comparing Business Structures for Yoga Teachers

by | Oct 4, 2019 | Tax News

Yoga Teachers are running businesses, and so need to think about structure. For many Sole Trader is the default choice and works well. Its important to know the structure of your business as this effects your registration obligations, how you are taxed and other...

Probate and its hidden dangers

by | Sep 27, 2019 | Tax News

A timely warning – When administering an estate can result in a financial loss.  A personal representative of an estate has various responsibilities. If the will names the person or entity who is to deal with the estate that person or entity is referred to as...

August 2019 Updates to Our Terms of Business

by | Aug 12, 2019 | YogaTax News

We’ve made a couple of updates to our Terms of Business with immediate effect. First, a new section 33 on Anti Money Laundering.   This covers our obligation to comply with UK AML rules, and clients obligations to provide us with identification, notify changes...

Changes to Whitefield Banking

by | Aug 8, 2019 | YogaTax News

Following completion of our migration from Standing Orders to Direct Debits, we are making some changes to our banking. Our main bank account continues unchanged.  It ends in 32.  It is in the name of Whitefield Tax Limited, our parent. If you have these account...

GDPR – one year on

by | Jul 31, 2019 | Tax News

Measuring the impact and what to focus on now. Reflecting on the first year of GDPR, the ICO highlights that ‘the focus for the second year of the GDPR must be beyond baseline compliance – organisations need to shift their focus to accountability with a real evidenced...

A Review of Competition Law

by | Jul 24, 2019 | Tax News

The Competition and Markets Authority (CMA) is an independent, non-ministerial government department. It seeks to enforce competition and consumer law to make markets work well for consumers, businesses and the economy. Competition law promotes fair trading between...

How to reduce or avoid HMRC VAT penalties

by | Jul 17, 2019 | Tax News

VAT penalties can be confusing, but depending on the type of compliance breach they either follow the same penalty regime which applies to direct taxes or a VAT specific penalty regime. Penalties can be issued for: failure to notify of VAT liability late filing HMRC...

VAT – Reimbursement or disbursement

by | Jul 10, 2019 | Tax News

Knowing the difference is important in getting the right VAT treatment. The difference between reimbursement and disbursement is significant from the VAT point of view as reimbursements are subject to VAT, while disbursements are outside the scope of VAT. If a...

MTD vs digital records

by | Jul 3, 2019 | Tax News

An insight into what could be termed as ‘digital records’ under MTD. With effect from 1 April 2019, if your taxable turnover is above the VAT registration threshold (currently £85,000), you are required to continue to keep digital records and send HMRC...

Reforms to protect businesses from fraud

by | Jun 27, 2019 | Tax News

Have your say on proposals to further safeguard businesses from fraud. Companies House Improving the accuracy and usability of data on the register consultation contains a number of reforms including some that you, and ACCA on your behalf, have been highlighting to...

Tax free childcare

by | Jun 18, 2019 | Tax News

Scheme could reduce childcare costs by up to £2,000 per child per year. Childcare vouchers (and directly-contracted childcare) were withdrawn for brand new applicants from 4 October 2018. Those who had not already signed up for childcare vouchers previously must have...
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