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Articles by Mark Brownridge
VAT changes for online marketplaces and businesses using vouchers - Financial Director
The advances in electronic services, as more businesses move into virtual marketplaces with virtual payments, continues to provide challenges to the VAT system. The first directives were drafted in the 1960s and VAT has evolved considerably since then.
MTD – a Trojan Horse into your accounting records? - Financial Director
If you are thinking HMRC’s plans to move over 1 million VAT-registered businesses to the new Making Tax Digital reporting platform in April 2019 is a lot of bother for reporting just nine boxes of VAT data, then you are right. It is an enormous upheaval to deliver what HMRC already receives. But a closer look at the new reporting format being imposed by HMRC gives a big clue as to what’s coming next.
The collision of tax technology and the digital world
Tax functions are feeling the strain with several forces putting the UK’s tax departments under greater pressure than ever before. Keeping on top of increased regulation, Making Tax Digital (MTD), requirements to analyse and report varied data sets currently residing in traditional silos and the demand for increased, real-time reporting and transparency, are all forcing tax departments to evolve quickly.
Making the most of Making Tax Digital
Making Tax Digital has been an undercurrent to larger discussions, like Brexit, for some time. Many are still unclear what the impact will be and when. In short, under the new rules select businesses will need to submit their tax data electronically via HM Revenue and Customs (HMRC) approved accounting software. The new rules are set to go live on 1 April 2019, just days after Brexit.
Digital tax could affect all businesses
There is public consensus that multinational businesses should pay tax on their profits. There is also a feeling that certain multinational businesses are not paying enough tax in the UK, because too small a proportion of their global profits is being allocated to the UK for tax purposes. In the Budget, The Chancellor announced the introduction of a “narrowly targeted” Digital Services Tax.
How investment scheme can support SMEs in the Brexit era
Brexit has dominated the political, economic and news landscapes ever since the 23 June two years ago. There has been constant coverage and speculation on the impact that it could have on almost all aspects of our daily lives, our political leaders and our future. One particular focus has, understandably, been surrounding what will happen to big corporations not headquartered in the UK that may look elsewhere for expansion or current operations, leading to a loss of jobs and economic output.
SMEs have been ignored during the Brexit process and they are the heartbeat of UK economy
Brexit has dominated the political, economic and news landscapes ever since the 23rd of June two years ago. Coverage and speculation has been almost constant regarding the effect that it could have on every aspect of the public’s daily lives, our political leaders and the future.
Money Marketing Interactive Harrogate 2018 Speakers
Abraham is founder of investment and retirement research consultancy, FinalytiQ and creator of Timeline.co, an innovative online application for illustrating sustainable withdrawal strategies in retirement portfolios. He has authored several industry papers and delivered talks to the FCA, Chartered Insurance Institute, Personal Finance Society and several conferences across the country.
The crucial role of tax incentives in startup investment
Getting funding for a new business can be tough. Rejection rates for startups seeking loans exceed 50%, which translates into more than 100,000 businesses a year being turned down for about £4bn of financing according to the British Business Bank. The reasons for the high numbers of failed applications include that traditional lenders do not always have the resources to assess a new business’ longer-term potential or viability.
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