Initor Global UK's guide on how the UK government has established a few rules that govern VAT on food along with upcoming changes in future.
VAT How VAT on Food is charged in the UK & Upcoming Changes in Future

How VAT on Food is charged in the UK & Upcoming Changes in Future   VAT or Value Added Tax is a form of indirect consumption tax applicable to a given product or service on which value gets added at each stage of the supply chain. More than 160 countries around the globe use the

Coronavirus Job Retention Scheme in the UK guide by Initor Global UK
COVID19 UK job retention scheme extended till 30 April 2021: Initor explains the detailed rules by the government

Coronavirus Job Retention Scheme in the UK guide by Initor Global UK The fight against the COVID-19 pandemic intensified yet again with the UK having to persist with extended nation-wide lockdown recently, as the discovery of more infectious Coronavirus strains in the country has tested the willpower of the nation. This has led to the

accounting An overview of the Tax and NIC thresholds for 2021-22 in the UK

An overview of the Tax and NIC thresholds for 2021-22 in the UK Usually, an Autumn Budget outlining the necessary details the following year would get delivered by the chancellor stating the rates and thresholds for National Insurance Contributions (NIC). Still, due to the pandemic spread worldwide, this did not happen in 2020. There was

COVID19 HMRC declares Tax & NI Exemption to Employer for Reimbursement of Corona Virus Antigen Test Fees in UK

HMRC declares Tax & NI Exemption to Employer for Reimbursement of Corona Virus Antigen Test Fees in UK   Earlier, many authorities in the UK, such as the ICAEW, had shared concerns with the government authorities regarding the matter of tax treatment in the cases where the employers reimburse their workers for the costs of

UK's Brexit tax changes to Corporate Account Reporting
accounting Changes to UK’s Corporate Reporting Regime with Brexit

Changes to UK’s Corporate Reporting Regime with Brexit   With Brexit finally a reality, it has changed the UK’s legal framework for accounting and corporate reporting, which is set to operate independently of EU law from January 1st 2021. Companies will now need to focus on the ramification for their year-end reporting. Initor Global UK

outsourced tax preparation services
tax Increased penalties from the HMRC for taxpayers in the UK

It’s every taxpayer’s concern to avoid fines and to understand how the HMRC penalties work to realize how they can avoid them. Each country has rules on penalties for late payment or filing. A penalty can be due if an entity does not report with the HMRC about its tax liability at the correct time

self assessment tax returns
tax Self-Assessment Customers in the UK to get the advantage of Enhanced Payment Plans

Another ray of light amidst the darkness that persists in the UK and across the world due to COVID-19 was the declaration of Enhanced Payment Plans for Self-Assessment Customers. The Chancellor, Mr. Sunak, had made a declaration for taxpayers’ payment plans in the country in September as part of his speech. Avail of the benefit

UK Imported Goods from EU
tax Changes in the UK for Imported Goods from the EU

On January 31, 2020, the United Kingdom (UK) got officially separated from the EU after the public vote held in June 2016, which was in favour of this deal. Thus, the UK is no more an EU member. The transitional period shall end on December 31, 2020, and after that, the UK will be out

taxtrak app for tax returns
tax Initor Global Unveils the Ultimate Tax Management App for your Business- TaxTrak

Smartphones have become an extended limb for most of us. The major elements that make smartphones, so indispensable are none other than the various mobile apps. These mobile apps have weaved their magic on us with their countless utilities. There is an app for almost every type of daily requirement. Hence, why not get hold

  • error: Content is protected !!