Government to open claims for Self-Employment Income Support Scheme from 13th May!

What is Self Employment Income Support Scheme? Self-Employment Income Support Scheme is for the self-employed or  member of a partnership who has been affected negatively by the coronavirus (COVID-19). Under this scheme, you can claim a taxable grant of 80% of your monthly trading profits which is paid out in a single installment covering 3 […]

When can you claim VAT for entertainment expenses?

Assuming your business is VAT registered and not partly exempt, input tax can be claimed on your expenditures. However, entertainment expenses are subject to a specific tax block and the scenario below demonstrates this concept clearly. Scenario While working on client site, John, an audit partner in an accountancy firm often visits restaurants for lunch. […]