Accounting

This category contains 106 posts

Are grants and/or donations vatable income?

HMRC says: “Income will be outside the scope of VAT if it is not payment given in return for a supply of goods or services. It is important to establish that an income described as grant or donation is actually an income that is freely given and the donor does not receive anything in return. … Continue reading

Minimum Wage Increases

Effective 01 April 2022, the National Living Wage (NLW) increased on Friday 1 April by 6.6 per cent to £9.50, providing a pay rise to millions of low-paid workers across the UK. The minimum per hour wage for those aged: 21 to 22 increased to £9.18 18 to 20 increased to £6.83 under 18 and … Continue reading

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