HMRC’s long due Domestic Reverse Charge for construction and property industry is coming into force on March 1st. The legislation is an anti- VAT fraud measure applicable to the Construction Industry Scheme (CIS) registered businesses providing or receiving construction services subjected to CIS reporting. To understand the full impact of Domestic Reverse Charge, specialists from Clear House Accountants have delved into the intricacies of the VAT notice 735. This guide is for general information, so it is advisable to consult a professional accountant who can help you according to your business situation.


Chancellor Rishi Sunak has revealed the Budget 2021 in the House of Commons on 3rd March 2021. He announced the latest measures in accordance with the government’s tax and spending plans for the year 2021–2022. He also unveiled the government’s plan to continue supporting businesses and individuals who are impacted due to the pandemic, which he hopes to positively impact the UK’s jobs and unemployment rate. Moreover, a series of tax plans were also communicated in the speech; these plans will help in rebalancing the public finances.

Following our tradition to supply our clients with the most recent and accurate…


Alphabet Shares

Alphabet shares allow a company to assign varying rights to its shareholders, i.e. some shareholders can have the right to get dividends but not to vote or appoint a director. Similarly, some alphabet shareholders might have limited voting rights with entitlement to a different rate of dividends. A company can issue alphabet shares if its existing shareholders approve of it while the rights attached to these shares are defined in a company’s articles of association. The alphabet shares are denoted by alphabets such as “A” shares, “B” shares etc., thus deriving their name.

Alphabet Shares come with their set of…


HMRC’s long due Domestic Reverse Charge for construction and property industry is coming into force on March 1st. The legislation is an anti- VAT fraud measure applicable to the Construction Industry Scheme (CIS) registered businesses providing or receiving construction services subjected to CIS reporting. To understand the full impact of Domestic Reverse Charge, specialists from Clear House Accountants have delved into the intricacies of the VAT notice 735. This guide is for general information, so it is advisable to consult a professional accountant who can help you according to your business situation.


Handling your business finance can get tricky and time-consuming, if not handled properly. Research carried out by finder showed that 23% of British adults have now opened digital banks, which equates to circa 12 million people. Make sure that the bank you select is registered with the Financial Conduct Authority before doing any further research before starting a business.

Managing cash flow for a business can not only get complex but can result in the business failing. Our guide to forecasting cash flow can be very useful if you are not sure how to plan for using your cash.


Home-based business ideas and their popularity has risen over the past years by a significant number, showing its reliability and success in how people’s lives have transformed. The idea of working from home and being your own boss has seen massive growth with global digital evolution. Working remotely while making money with ease is like a dream come true for many, especially for people who struggle to commute, manage work-life balance or cope with strict office timings.

A lot of people have lost their jobs due to the recent pandemic, further leading to an economic crisis. What most of us…


Each year thousands of UK citizens submit their self-assessment taxes before or on the deadline day that is 31st January, and almost one-third of this number do it in the very last hour. This year HMRC is expecting 12.1 million tax return filings to be filed of which 55 per cent have already been received as of 29 December 2020. Considering this, around 5.4 million taxpayers will still face last-minute panic as there is now less than a month left to file tax returns.


VAT is value-added tax consumers pay on the products and services which are fit for human consumption. It is an indirect tax that the government uses to generate revenue within their set policies and standards. The government of the UK has established a series of elaborative rules for VAT on food. However, these rules are complex to understand and get confusing when applied to various scenarios.


There has never been a year like 2020 nor have we seen the time of festivals or Christmas like this time. It’s hard to grasp that the global pandemic has restrained the usual traditional practices like staff parties and team lunches. Challenges such as a continuous state of uncertainty, social distancing, and the lockdown have made it hard for businesses to reward their employees with an annual Christmas party or any other event. The tax uncertainties around alternatives such as virtual parties or gift boxes have left employers confused and wary.


The concept of owning a business and being self-employed can have the same meaning but can have different connotations. You can be a freelancer, a contractor, a sole trader, or can own a limited company under the umbrella term of being self-employed. In simple terms, self-employed can mean being your own boss. The notion of being a freelancer in the UK can be a challenging concept to grasp which can make it hard to understand the income tax implications one faces. …

Jibran Qureshi

Jibran Qureshi FCCA is the Managing Director of Clear House Accountants, and has over 10+ years of experience in practice and across multiple industries.

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