Renewed conflict in the Middle East

Renewed conflict in the Middle East is already having knock on effects for the global economy, and UK business owners are likely to feel the impact through higher costs and increased uncertainty rather than direct disruption. The most immediate pressure point is...

Meaning of trade for tax purposes

The meaning of trade for tax purposes, often referred to as HMRC’s “badges of trade” test helps determine whether an activity is a genuine business or simply a personal hobby. While the test is not definitive, it provides important guidance on how...

Which supplies are zero rated for VAT?

Understanding which supplies are zero rated for VAT is essential for any business. A zero-rated supply is still a taxable supply, but it is charged at a 0% VAT rate. This distinction is important because VAT incurred in making a taxable supply can still be recovered....