Accounting Advice for Small Businesses, Landlords and Contractors
Welcome to the Cubic blog - where we share tips, how-tos, and updates to help you run your business, stay tax-compliant, and make smarter financial decisions.
Electric Car Charging
A supply of electricity is charged at the standard rate of VAT, other than a supply for domestic use, which is charged at the reduced rate of 5%, and low-level usage in other settings which is ‘deemed’ domestic use, also 5%. Supplies of electricity from charging points, although small amounts, do not meet the conditions…
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HMRC Recovery £1 Bn of Furlough Fraud
HMRC is set to recover over £1bn of fraudulent or mistakenly claimed furlough money over the next two years Chief executive at HMRC, Jim Harra predicted that the tax authority looks set to recover over £1bn from fraud related to the covid-19 support schemes over the next two years. At a Public Accounts Committee in…
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