Author: David Richardson

Three years ago we help a local student to raise funds through sponsorship to help schools Tanzania.

Now we are looking to help another student who wants to help by volunteering his time in a Nepalese hospital next summer Here’s the story:

George who spent a year working for MGD before starting his Medical training is going to Nepal to work in a hospital next summer. The work is unpaid as Is his travel and subsistence for this part of his training.
He has set up a fundraising page to help with the cost of his expense in providing this valuable support for the medical profession out in Nepal. He is also donating anything beyond his cost to the hospital fund where he is visiting. This fundraising is much needed.

The information about what he is doing and why is on the go funding page.

George is very interested in mountaineering and climbing and is an experienced skier having raced at international level from childhood.

He is undertaking this with two other medical students from Liverpool University. Each are responsible for self-funding and arranging the Nepalese hospital training themselves. On the basis of gaining experience and providing useful expertise in an area in which they see themselves progressing in the future. George is intending to work alongside Neuro and plastic surgeons already practicing out there.
George has already spent time in Asia working in hospital having spent 2 weeks in 2016 working in a hospital in Thailand where he gained his interest in surgery.

We are helping George with his fundraising efforts by publicising this through our advertising channels including social media.

George will provide information and photos from his visit next summer.

But you can help George to achieve right now by visiting his Gofundme page

More to follow.

UPDATE

As of 6th September 2019, the introduction of this tax has been delayed by HMRC to 1st October 2020. The reason for the delay is that industry is not yet ready to implement the changes and the 12 months delay will avoid coinciding with Brexit.

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Are you aware of the changes in VAT rules if you are involved in Construction?
Construction Industry Reverse VAT charges

If you are involved in the construction industry it is important that you are aware of the VAT changes that come into effect 1st October 2019.
This is a significant change to the way you account for Output VAT on contract work.

It applies in the following circumstances:
• The supply consists of Construction services and materials
• It is standard or reduce rate VAT
• It is between a UK VAT registered supplier and UK VAT registered customer
• Both parties are registered for CIS
• The customer intends to make an ongoing supply of construction services
• The supplier and customer are not connected.

What do you Need to Do?
With contracts starting 1st October 2019 you will need to check whether they fall within the reverse charge rules and when you will receive payment.
If payment is received before the 31st December 2019 then you account for VAT as normal for receipts after this date reverse charge rules will apply.

What does this mean in practice?
Where the rules are met instead of charging output VAT your invoice will say
‘Reverse charge applies at the VAT rate of either 20% or 5% if reduced rate’

Does this affect my VAT scheme?
Yes, it may do contact us for further advice.

Who pays the VAT?
Where you and the contractor are VAT registered then the contractor pays the VAT on your behalf. Please bear in mind that this may influence your cashflow as you will no longer be receiving the gross invoice only the net amount. You may wish to consider switching to monthly VAT returns. Please ask us for advice.

There are detailed rules on what type of work applies and circumstances of continuous supply so if you require any assistance on this please do not hesitate to contact us.

Karen Richardson

 

The IR35 rules are changing and if they affect you then our tax advisors are perfectly placed to help you with the transition.

The most important step is to establish if your work is subject to IR35 rules. So, do you work for yourself but only have one client and you operate as a limited company doing consulting work then it is almost certainly applying to you.

To find out more about IR35

If this is the case and you want to know more about it, we have published a fact sheet which outlines the stages and implementation which is necessary.

Once you have had the opportunity to look through these then why not contact us so that we can guide you through the implementation to compliance.

Download the IR35 factsheets

Make an Appointment

Are you looking for a career in accountancy or maybe looking for a new challenge to expand your accountancy skills. Then have a look at the type of roles we are looking for at Careers at Mcginty Demack

So, if you are looking to join McGinty Demacks’ apprenticeship programme, or if you are already experienced in the accountancy field then why not apply.  Complete the application form on our website.

To help with connecting Quickbooks and Online Banking McGinty Demack have produced a fact sheet.

Quickbooks will soon be updating the way they link to your bank. This is to improve the connection and help provide a better service.

To help keep you informed of this change please see our FAQ sheet below.  If you have any questions please do not hesitate to contact us.

Open Banking FAQ