Please see a PDF regarding the new capital allowances which were announced at the Budget.

Click here for your 2020/21 Year-End Strategy Guide which contains practical guidance and ideas to implement before 5 April 2021.

With the end of the tax year fast approaching, now is a good time to review your business and personal finances to ensure that they are as tax-efficient as possible. With our useful tips and expert assistance in our 2020/21 Year-End Strategy Guide, we can help you and your business to increase your profitability and minimise the tax burden.

Inside this giude:

• Reduced rates of stamp duty
• Tax planning – a family affair
• Tax cashflow: your next steps
• Funding a comfortable retirement
• preserving profit
• reducing your inheritance tax liabilities
• Year-End checklist

Dixcart UK are here to keep you up to date with all of the latest news and to help you with your business planning. We aim to ensure that all of our clients are making the most of the tax-saving opportunities available to them, helping to make their business and personal finances as tax-efficient as possible. 

If you require more copies of the guide to pass on to others, we will be delighted to send them to you.

For further advice or information on any of the issues covered in the guide, please get in touch: hello@dixcartuk.com. Alternatively you can call us: 0333 122 0000. We would be delighted to talk to you.

From 1 March 2021 HMRC will finally introduce the domestic reverse charge. The charge may be relevant for businesses supplying or purchasing building and construction services.

If supplying services, you will need to apply the reverse charge if the following statements are true:

• your customer is registered for VAT in the UK,
• payment for the supply is reported within the Construction Industry Scheme (CIS),
• the services you supply are standard or reduced rated,
• you are not an employment business, supplying either staff or workers, or both,
• your customer has not given written confirmation that they are an end user or intermediary supplier.

If purchasing building and construction services, you will need to apply the reverse charge if the following statements are true:

• payment for the supply is reported within the Construction Industry Scheme (CIS),
• the supply is standard or reduced rated,
• you are not hiring either staff or workers, or both,
• you are not using the end user or intermediary exclusions.

HMRC have confirmed that they will apply a “light touch” in dealing with any errors made in the first 6 months of the new legislation, to allow for difficulties faced while implementing the scheme.

For additional information, please contact Paul Webb: hello@dixcartuk.com.