Author: Mohammed Haque

Mohammed is a chartered accountant (ICAEW) with many years of experience in dealing with complex audit, accounting and tax matters.

New tax on dividends

this post is now on our secondary website for contractors: http://vipcontractor.co.uk/new-tax-dividends/

Re-register as a plc

How to Re-register as a plc A plc status can be beneficial for privately held companies as they will improve the credit status for a business and also makes it look more prestigious. A plc can be privately owned and doesn’t have to be listed on a stock exchange. If you currently have a limited… Continue reading Re-register as a plc

Setting up company structure

Factors involved in setting up company structure There are different factors involved in setting up company structure and it depends on the type of business, circumstances of the shareholders and their aims for the business.   Shareholders: if you may sell the company and re-invest the profits a holding company may be useful otherwise, the co-founders can… Continue reading Setting up company structure

VAT for non-EU sellers

Is registration required for VAT for non-EU sellers using Fulfilment by Amazon in the UK? This has been in the news recently and HMRC may have lost £2bn in recent times from non-EU sellers who have illegal evaded VAT and have recently announced methods of enforcing the VAT. This is a tricky subject and can get… Continue reading VAT for non-EU sellers

Published
Categorized as VAT

Diverted Profits Tax

Draft legislation has just been released  for the diverted profits tax, which was recently announced in the Autumn Statement 2014 https://www.gov.uk/government/publications/finance-bill-2015-draft-legislation-overview-documents Effective date The new rules will be effective in respect of profits arising on or after 1 April 2015. 1st Rule The first rule is designed to address arrangements which avoid a UK permanent establishment… Continue reading Diverted Profits Tax

Is tax evasion haram?

Download the full report here Tax evasion has a significant impact on the economy and has greatly contributed towards the £35bn UK tax gap between what should be collected in tax and what is actually paid for. As a result HMRC is stepping up its campaign against this criminal activity; prosecutions rose by 29 percent… Continue reading Is tax evasion haram?

Bitcoin audit

Why would a Bitcoin audit be required? The New York State Department of Financial Services have proposed Bitlicense regulations which would require licensees to submit audited annual financial statements. If these regulations are passed it is possible that authorities in other jurisdictions would implement similar requirements. For example, we note that online gambling was initially illegal in… Continue reading Bitcoin audit

Xero Accountants

xero accountants

We are certified as Xero Accountants As Xero accountants we specialise in tech startups but also have experience of many other types of businesses from creative agencies to contractors to restaurants. What is Xero? Xero makes it very easy for businesses to do their bookkeeping, for example by automatically feeding in transactions from your bank and using… Continue reading Xero Accountants

VAT and financial services

VAT and financial services: Are you losing out on VAT? VAT and financial services is a very tricky area and this video presentation gives a brief overview: https://www.youtube.com/watch?v=IaYzGej4p0c The main points covered are: 1) VAT and financial services exemptions under VAT Act 1994 Schedule 9 Group 5 (eg money, loans, securities, advising collective investment scheme)… Continue reading VAT and financial services