VAT Tool for Flat Rate Scheme users

And lo. HMRC have released the online tool to help you work out whether the Flat Rate Scheme (FRS) is worth it once the changes come in on 1 April 2017. For most freelancers and consultants I suspect the answer will be READ MORE >

Posted on 06 March 2017

Sole Trader Training for BBC Leavers

We’ve been hearing from a number of BBC leavers asking about what’s happening to our rather well-known ‘setting up as a sole trader’ course. This is because the BBC Careerlink service, which has been buying in our courses, shut READ MORE >

Posted on 01 March 2017

Mainstream media gets a whiff of digital tax

2017 is well underway, and here at Thomas Towers we’ve been thinking about the main training challenges for the coming year.

Without a doubt, one of the big ones will be how READ MORE >

Posted on 16 January 2017

Update: VAT Flat Rate Catch for Freelancers

Well there’s not much more  in today’s “clarification” from HMRC about how flat rate VAT will actually work for the newly conceptualised ‘limited cost businesses’.

One of the more interesting aspects is READ MORE >

Posted on 05 December 2016

New VAT catch for freelancers?

The Chancellor’s Autumn Statements and Budget announcements seem to follow a set pattern.

  1. Leak goodies (e.g. investment in broadband) to the press in advance
  2. Friendly MPs ask questions during PMQs highlighting the goodies (e.g. yesterday’s broadband investment or road repairs)
  3. Broad brush and headline-friendly stuff goes in the televised speech
  4. Much more detail comes out in the Treasury papers
  5. People discover the detail and go ‘hang on a minute’
  6. Clarification
  7. (Optional stage) Tinkering
  8. (Also optional) U-turn because the implications are non-sensical or politically damaging

We’re already at stage 5 with one bit of small print after yesterday’s Autumn Statement. The Treasury paperwork says:

READ MORE >

Posted on 24 November 2016