VAT Fraud: Some basic facts

VAT Fraud: Some basic facts

VAT is Value Added Tax, is a tax on consumer spending, and some businesses evade paying it through fraud. VAT fraud is one of the most common forms of tax frauds and something HMRC takes very seriously. It usually can occur as the business is not charging VAT when...
10 Interesting Tax Facts

10 Interesting Tax Facts

1. Breaking Bad was moved to Albuquerque, New Mexico from Riverside, California, where it was going to be originally set. But the tax breaks were better in New Mexico, so the film’s creators were easily convinced. 2. New Mexico is great not only for filmmakers but...
VAT and Brexit: Implications for you

VAT and Brexit: Implications for you

Obviously Brexit has been the most often discussed topic in this country over the last few years, and especially this month, with the expected date of 31st October going ahead. Brexit creates a number of uncertainties for everyone, and one of them is the situation...
Four tonnes heavy cryptocurrency

Four tonnes heavy cryptocurrency

What have the Micronesian island of Yap and Bitcoin got in common? It looks like that the blockchain technologies used to record digital transactions are not so revolutionary, as the people of Yap have been using the same system for a few centuries already – except...
History of taxes

History of taxes

As an accounting firm we do so much work with taxes, so it only makes sense to start our brand new blog with history of taxation. The first known system of taxation was in Ancient Egypt around 3000–2800 BC in the First Dynasty of Egypt of the Old Kingdom of Egypt. The...