Here’s what you need to know about the UK’s plans to radically alter GDPR The UK government’s consultation on reforming data protection, launched on 9 September, sets out a radically different framework for data protection than GDPR. From re-orientating the Information Commissioner’s Office to new ways for businesses to process data, these far-reaching reforms are set to…
Applications for the fifth SEISS grant are now open
Self-employed taxpayers can now apply for the fifth SEISS grant, but they may need to provide two different turnover figures from their business as part of their application. The portal to apply for the fifth self-employed income support scheme (SEISS) grant opened on 29 July, but not everyone can apply at once. HMRC has contacted…
Self-employed? Good luck claiming the fifth SEISS grant.
HMRC has issued guidance to self-employed taxpayers about how to apply for the fifth SEISS grant, the portal for which is due to open later this month, however this guidance is both confusing and in some cases simply wrong! Even as an accountant I have struggled to understand what it means, but I’ll do my best to…
The EU’s new VAT rules for e-commerce from 1 July 2021
The new European Union (EU) VAT system for business-to-consumer (B2C) e-commerce sales comes into force on 1 July 2021. This package of changes comprises: a one stop shop for accounting for VAT on B2C services; an import one stop shop (IOSS) to pay import VAT on low value imports of less than €150 from outside…
The Import One Stop Shop (IOSS) scheme isn’t that simple
The Import One Stop Shop (IOSS) aims to simplify cross-border VAT for consumers. The scheme goes live on 1 July 2021, but already some GB based taxpayers are finding some unexpected complications. The import one stop shop is an EU wide scheme the aim of which is to simplify the movement of goods not exceeding…
Are you making this mistake in your business?
Most entrepreneurial business owners want to grow their business, make more sales and generate more profit. It’s why they started the business in the first place. But in their eagerness to make more profit and earn more, too many business owners make a fundamental mistake, which I see all too often. They assume the answer…
Amazon launches a Payment Server Provider policy
Amazon is launching a Payment Server Prover policy to reduce financial crime by online sellers, meaning that online sellers that use their platform will soon only be able to use services from a small select list of providers. Amazon sellers will only be able to access funds through the Amazon store through official Amazon Payment…
“I can’t wait for things to get back to normal”
I’ve heard this a lot recently. They mean like things were before the pandemic. My standard response is “Why on earth would you want that?” Normality has never been anything to aspire to. I wouldn’t like being called “normal.” No one who excels is called “normal”. It’s like wanting to be mediocre or average. There…
Are you curious?
Albert Einstein once said ‘If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask… for once I know the proper question, I could solve the problem in less than five minutes.” He was curious….passionately curious. In 1951, the Nobel…
Is there something sinister going on?
With just 24 hours to go before the Budget statement from the Chancellor the news media and politicians are eager to have their say about what we can expect. The problem – which is becoming quite annoying – is that not only are journalists are asking the wrong questions, but that politicians are answering them! No…
