This tag is associated with 5 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

Update: Self-Employment Income Support Scheme (SEISS)

For the upcoming SEISS grant claims this month (April 2021), HMRC has been contacting some customers to confirm their eligibility. These customers are being asked to provide proof of ID and trade. Passport or driving licence are acceptable plus three months bank statements from their business accounts for the 2019-20 tax year. From mid April, … Continue reading

Enter your email address to receive notifications of new posts by email.

Join 851 other subscribers
Follow Phoenix Debola on