A selection of business news and articles to help make your business a success
Anyone who needs to make changes to their VAT details now needs to do this online through their VAT online account. Prior to August 5, you could use the VAT484 form, or another postal or electronic method. But this is being phased out. The digital route is more secure...
The new Labour Government is adding VAT to school fees from January 1 next year. This will increase the bill to parents by 20%, unless schools choose to reduce fees another way to reduce the impact of the extra tax. Private schools were exempt from VAT on fees for...
Keeping good business records is an essential part of running a business, but it is also a legal requirement when it comes to HMRC. To keep on the right side of the law, businesses and individuals should keep records of their income and expenditure for at least six...
A new VAT penalties regime was brought in this month. Any firms or individuals missing their filing deadline from January 2023 onwards will receive penalty points, even if there is no VAT due to be paid. While this may sound more benign than getting a fine, persistent...
The Autumn Budget occurred on Wednesday 27th October 2021, and we have to admit, it was a rather underwhelming for small businesses and the self-employed. Most of Chancellor Rishi Sunak’s announcements weren’t specifically related to those working for themselves....
Rishi Sunak delivered the government’s Summer Statement on 8th July. Unsurprisingly, the announcements revolved mostly around the UK’s plans for economic recovery from the ongoing pandemic. Many of these measures will affect small businesses, limited companies and the...
One of the biggest changes to the accounting industry is on the doorstep: Making Tax Digital (MTD) for VAT. Whilst HMRC began a communications campaign last Autumn, there are still businesses who aren’t quite certain how it will impact them. With the countdown...
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