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Sage are no longer selling their accounts software to their customers and are moving all users to a monthly subscription as they renew and upgrade their Sage software.
After Making Tax Digital has been implemented in April 2019, all VAT registered businesses with Turnover in excess of the VAT registration threshold which is currently £85,000 will need to keep digital accounting records.
The 2016 First Tier Tribunal case of J C Allen v HMRC provides new and important clarification on the fine line between a trading activity and an investment activity for those letting land on conacre arrangements. There is extensive reference to the McClean case which was won by HMRC in 2009 but this case was won by the taxpayer. We have prepared a summary of the findings in this case. Please contact us if you require more information on this.