The Capital Goods Scheme for VAT
The VAT capital goods scheme affects input recovery relating to high-value assets, such as land and buildings. The scheme aims to correct the amount of VAT recovered when the use of the asset, between exempt and non-exempt supplies, in later years varies from that in the year of purchase. How does this work in practice […]
Planning Redundancies
With redundancies on the rise due to coronavirus, it is important to understand how termination payments work. You might have a £30,000 tax-free figure in the back of your mind, and at first glance you are not wrong. However, new rules were announced back in 2018 and additional changes came into effect in April 2020. […]