Merranti Accounting Blog

When to register for VAT

When Should you be VAT registered?

May 17, 2021

In simple terms, you should register if in the last twelve months you have turned over more than £85,000, and you should do this within 30 days of the last day. However, if you are trading with VAT registered businesses then you should consider registering anyway because you will be able to claim back the

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Furlough Update

Furloughing extended / Self Employed Grant

May 17, 2021

The Coronavirus Job Retention Scheme (CJRS) for furloughed workers has been extended until 30 September 2021. Currently, the worker must receive a minimum of 80% of ‘normal’ pay for their furloughed hours and this will continue through to September. Until 30 June 2021, the position of the employer will be unchanged, namely: They can claim

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Building site Special purpose vehicles Property accoutant

What is an SPV in Property?

March 16, 2021

An SPV, Special Purpose Vehicle, is a standard limited company that has been set up purely to transact for one purpose or transaction. When you intend to purchase a property or land to build residential or commercial development, it is common for this to be bought in a newly registered company that has no liabilities

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we are hiring kickstart scheme

We are hiring – Kickstarter Scheme.

February 22, 2021

We are hiring – Kickstarter Scheme. This role is part of the Government’s Kickstart scheme. As a result, it is only available to 16-24 year olds on Universal Credit. Please check you’re eligible with the JobCentre before you apply. Job Role: Accounts Administrator Number of hours per week: 25 -37.5 We are flexible Working pattern:

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Construction Industry VAT changes

Construction Industry VAT changes

February 3, 2021

From 1 March 2021, the responsibility for accounting for VAT on building works will shift up the supply chain to larger contractors. Building sub-contractors will no longer charge VAT to other businesses in the construction industry. Instead, their building customers will account for the VAT as both a purchase and sale by doing a reverse

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will i get a state pension Paying NICs

Will I get a state pension?

January 27, 2021

Will I get a state pension? Individuals who reach #StatePension Age (SPA) on or after 6 April 2016 need to have accrued 35 complete years of National Insurance Contributions (NIC) to receive the full state pension. To receive any UK state retirement pension, you need at least ten complete NIC years. You can check how

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Do you pay tax on Interest on savings?

Do you pay tax on Interest on savings?

January 25, 2021

Do you pay tax on Interest on savings? All interest you receive is taxable unless it is from an ISA, but banks and building societies no longer deduct tax from interest paid to individuals. For most taxpayers the rate of tax payable on that interest is 0%, so no tax is in fact due. This

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Working from home

Can I claim working from Home?

January 22, 2021

Can I claim working from Home? Where you are required to work at home, your employer can pay you a tax-free allowance of £6 per week (or £26 per month). For periods before 6 April 2020, the tax-free allowance was £4 per week (or £18 per month). This allowance covers the additional costs incurred by

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VAT EU Accountant Brighton Accountant East Grisntead

Did we get the deal?

January 21, 2021

Did we get the deal? We all heard Mr Johnson say we had the deal; now we are feeling the after-effects the deal with issues in sending and receiving outside of the UK. The UK is now treated as a third country to the EU, which means the VAT rules on imports and exports have

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When do pay Stamp Duty?

Land Tax / Stamp Duty Holiday

December 11, 2020

When do pay Stamp Duty? All property in the UK is subject to a land tax which normally paid by your solicitor once the completion has occurred and Land Registry has been notified. How much you pay in Stamp Duty is all dependent on how you buy the property and whether your buying as an

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