NEWS
Explore our blog - you'll discover a selection of useful accounting news articles and all the latest updates from MATCH Accounting.
Reduced VAT for Hospitality Ends Soon
Since the 8th of July 2020 the government put in place a temporary 5% reduced rate of VAT (usually 20%) to certain supplies relating to hospitality, hotel and holiday accommodation and admission to certain attractions. On 1 October 2021 this was raised to 12.5% and will end on 31 March 2022, going back up to…
The Super-Deduction
For expenditure incurred from 1 April 2021 until the end of March 2023, companies can claim 130% capital allowances on qualifying plant and machinery investments for the first year, instead of the normal 100% Annual Investment Allowance (AIA). For every pound a company invests, their taxes are cut by up to 25p. Examples Under…
VAT Reverse Charge
Not VAT Registered? The VAT Reverse Charge could still apply, so stick with us. Note that this is separate to the VAT Reverse Charge for Construction. The Reverse Charge is the way you account for non-UK services you receive. The Reverse Charge is the amount of VAT you would have paid on that service if…