Pro Taxman Blogs

Finance & Accounting

Should I pay Class 2 NIC voluntarily?

Entitlement to the state pension and certain contributory benefits depends on an individual having paid, or been credited with, sufficient National Insurance contributions. To qualify

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Finance & Accounting

VAT penalties – New rules

The VAT default surcharge is being replaced with a new VAT penalty and interest regime. The new rules apply to VAT accounting periods beginning on

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Finance & Accounting

When is a loan not a loan?

When a loan is taken out with a bank the repayment terms are usually confirmed in a formal loan arrangement. However, if you are a

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Finance and Accounting

VAT bad debt relief

If you are a VAT-registered business you must charge VAT when you make taxable supplies. You must also pay over the difference between VAT you

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