by admin | Mar 13, 2019 | cloud accounting, economy, HMRC, SME, VAT
What you need to know: Making Tax Digital Philip Hammond reinforced that the mandatory digital record keeping for businesses with annual revenues above the VAT threshold (£85,000) will come into force from 1st April 2019. He called this an “important...
by admin | Aug 7, 2018 | cloud accounting, DIgital, HMRC, Uncategorized, VAT
If your accountant hasn’t mentioned this yet, then you really ought to have a new accountant. Does this affect me? Are you VAT registered? Then if so, yes. This does affect you and you need to be considering whether you will be compliant in time. What is it? Making...
by admin | Mar 31, 2017 | HMRC, Uncategorized, VAT
From 1 April 2017 the VAT Flat Rate Scheme will be changing for some small businesses. Currently the flat rates percentages range from 4% to 14.5% depending on the type of business. The new percentage is 16.5% and applies to businesses with low expenditure relative to...
by admin | Jun 3, 2015 | HMRC, SME, VAT
HMRC have issued a list of makes and models of car derived vans and combi vans which VAT registered businesses can use to determine if the VAT paid on the purchase can be reclaimed as input tax. The issue is that VAT will normally be claimable in full on the purchase...
by admin | Jan 23, 2014 | expenses, HMRC, small business, SME, VAT
There are benefits to a voluntary VAT registration. You are able to charge VAT on your sales and claim back the VAT on your expenses. This is beneficial if you operate in a business to business environment and all your customers are VAT registered. They recover...
by admin | Jan 8, 2014 | SME, tax, VAT
As a growing small business you should consider when you should register for VAT. If you’re in business, supplying goods or services within the UK and your turnover for the previous 12 months is more than the registration threshold (£79,000 at the time of...
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