When your business imports goods or receives services from overseas, special VAT rules apply. Imported goods Imported services Important: Keep all documentation for imports and overseas services and ensure your accounting system handles reverse charge correctly.
Many UK businesses supply a mix of taxable and exempt goods or services. This falls under partial exemption rules. You must register for VAT if your taxable turnover exceeds £90,000 in a rolling 12-month period, or you expect to exceed this threshold within 30 days. This assessment is done excluding the exempt turnover Important notes: […]
Being self-employed in the UK means you manage your own finances — including paying tax and National Insurance. Unlike employees, who have PAYE deductions made automatically, self-employed individuals must register with HMRC, track income, and complete an annual Self Assessment. Understanding how much you owe and when to pay is essential to staying compliant. Income […]
You may have noticed a major clean-up at Companies House, as over 11,500 UK-registered companies were struck off following a crackdown led by the National Economic Crime Centre. These companies were found to be non-compliant with registered office rules and were linked to high-risk incorporation practices. Authorities, including HMRC, Companies House, the National Crime Agency, […]
Beginning January 2026, Reporting Cryptoasset Service Providers (RCASPs) will be required to collect your user and transaction data and report to HMRC. These changes fall under the Cryptoasset Reporting Framework (CARF), introduced by the OECD and now adopted by the UK to enhance transparency in crypto tax reporting. The rules will apply to both international […]