Academy school finances in the South East now show a surplus according to figures but nationally the picture is more uncertain with schools reporting a deficit and there is a risk that this financial distraction diverts attention from their core purpose of teaching.
In a little over two months many VAT registered businesses with turnover exceeding the £85,000 threshold will be required to file VAT returns digitally. Under Making Tax Digital (MTD) businesses will be required to use software to keep accounting records and file VAT returns to meet the new requirements.
We are proud to be sponsoring the Kent Charity Awards 2018/19. Nominations have now opened for the awards, please head over to the Kent Charity Awards website by clicking here to nominate a charity, large or small; you think deserves the recognition for the wonderful work they do! The awards are free to enter, so do make sure you don't miss the deadline for nominations in April 2019.
In previous Pathfinder – Business update e-newsletters we have discussed selling your company and securing your 10% tax rate and considering a tax efficient exit (see article here). The key relief which is hinged on a securing the 10% tax rate is Entrepreneurs’ Relief (ER).
From 1 April 2019, VAT registered businesses with a turnover exceeding the £85,000 VAT threshold will be required to file VAT returns through Making Tax Digital compliant software and not via the current HMRC portal.