Guide to charging the right VAT rate
Business owners may be amused to discover VAT was hailed as “a simple tax” when the UK Government introduced it almost 50 years ago. The fact is, the rules around VAT...
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How and when to reclaim VAT
The UK’s standard VAT rate rarely changes. In fact, it’s already been more than a decade since the figure was last altered in 2011 when former Chancellor George Osborne restored...
Making Tax Digital: What You Need To Know For VAT
No matter the size of your company’s turnover, if you’re registered for VAT you must now register to file returns online as part of the UK Government’s Making Tax Digital...
Why should you register your business for VAT?
If your business is a start-up or you’re a one-person band, it might not cross your mind to register for Value-Added Tax (VAT). Or, you might think you need to...
The Small Business Owner’s Guide to VAT (Value-Added Tax)
Understanding how VAT tax works for your small business can be a minefield. You’ll need to get to grips with Corporation Tax, National Insurance Contributions (NICs) and personal Income Tax –...
How to Create A Cash Flow Forecast for your Small Business
Do you know how much cash you will need to pay your employees during an upcoming busy holiday period? Do you know how much you will be spending on inventory...
Which business structure is best for my new business?
One of the first major decisions to be made after deciding to chase the dream of starting your own business is selecting the right business structure. Yet, despite its importance,...
Four Million Yet to File Just Days Before Self Assessment Deadline
Millions of small business owners and self-employed sole traders are yet to submit their completed Self Assessment tax return - and could face harsh penalties - ahead of the January...
Making Tax Digital for VAT deadline looms for small businesses – are you ready?
The clock is ticking for some small business that are yet to choose a Making Tax Digital (MTD) compatible accounting software. The UK Government is urging VAT-registered small businesses to act...
How to write an invoice if you’re self-employed
By July 2021 the UK had 4.3 million workers counting themselves as self-employed (source: Statista). While this figure dropped from a historical peak of 5 million at the beginning of...