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Overview of Digital Services Tax (DST)

Overview of Digital Services Tax (DST)

The UK’s Digital Services Tax (DST) came into operation on 1 April 2020. This tax is designed to ensure that the major social media, search engine and online retailers are subject to a 2% tax on revenues generated from the participation of UK users

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Business VAT responsibilities

Business VAT responsibilities

The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT registration.

Businesses charge VAT on their sales.

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How to check a UK VAT number

How to check a UK VAT number

The online service for checking a UK VAT number is available at: www.gov.uk/check-uk-vat-number.

This service can be used to check:

if a UK VAT registration number is valid; and
the name and address of the business the number is registered

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Post cessation transactions

Post cessation transactions

Tax relief may be available for post-cessation expenses of a trade. To be an allowable post-cessation expense the trade must have ceased and the expense must have been deductible in calculating the trading profits.

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Check a VAT number

Check a VAT number

The check a UK VAT number service is available at: www.gov.uk/check-uk-vat-number.

This service allows users to check:

if a UK VAT registration number is valid; and
the name and address of the registered business.

The service also allows UK

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Class 4 NICs who is liable?

Class 4 NICs who is liable?

Self-employed individuals with profits over £12,570 must pay Class 4 National Insurance contributions (NICs). Rates for 2024-25 are 6% for profits between £12,570 and £50,270, and 2% above this. Certain groups are exempt. Contributions fund public services, making understanding tax obligations crucial for societal contribution.

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Tax-free child care

Tax-free child care

HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for Easter school holidays childcare costs. The TFC scheme can help parents of children aged up to 11 years old (17 for those with certain disabilities).

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Are you self-employed?

Are you self-employed?

Notify HMRC promptly when self-employed, by October 5 after tax year-end, for timely self-assessment and penalty avoidance. Follow HMRC guidelines to accurately determine status and comply with tax regulations.

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