‘Can I Reclaim VAT?’ is a question we get asked most often when a business owner is considering voluntary VAT registration. VAT is a significant consideration for businesses in the UK, but it’s not just about paying it; you may indeed also be able to reclaim VAT on certain purchases. In this guide, we’ll explore […]
VAT (or Value Added Tax) is a tax charged on the sale of goods and services in the UK. If your business is VAT-registered, you’ll need to understand how to pay VAT and report it to HM Revenue & Customs (HMRC). In this guide, we’ll take you through the steps of paying VAT. How to […]
New employers often ask us ‘Do I Need to Set Up an Auto Enrolment Pension Scheme?’ Well, the answer depends. But In this blog post, I’ll break down the essentials of Auto Enrolment and help you determine if your business needs to implement it. Auto Enrolment is a government initiative aimed at encouraging more people […]
After registering for VAT you may well be asking “How do I submit my VAT returns?”. Submitting them accurately and on time is crucial to staying compliant with HM Revenue & Customs (HMRC) regulations. In this guide, we’ll explain the steps necessary. How do I submit my VAT returns? Firstly, it’s essential to understand your […]
Even if you are able to register for VAT you still may ask ‘how do I sign up to MTD for VAT?’ In this blog post, we’ll break down the steps you need to take. Firstly, it’s important to understand what MTD for VAT entails. Essentially, it’s a government initiative that requires businesses to keep […]
Understanding the process of registering for VAT is crucial for businesses operating in the UK. We sometimes get clients ask us ‘How do I register for VAT?’ In this guide, we’ll walk you through the steps involved in simple and easy-to-understand terms. How do I register for VAT? Determine if You Need to Register The […]
As an accountant specialising in taxation, I often get clients who are considering voluntary VAT registration. While VAT registration can offer certain benefits to businesses, it’s crucial to weigh the advantages against the potential drawbacks. In this blog post, we’ll explore the disadvantages of voluntary VAT registration and why it may not be the right […]
If you’re a small business owner or a freelancer in the UK, you might have heard about VAT (Value Added Tax) and wondered about registering. Well, wonder no more! We take a look here at the advantages of voluntary VAT registration in plain and simple terms. Firstly, let’s quickly recap what VAT is. VAT is […]
Last week, the Chancellor made his 2024 Spring Budget speech, setting out the government’s plans. These include bringing forward a series of reforms to ensure the tax system is simple, fair and keeps pace with economic developments. Personal Tax in the 2024 Spring Budget Speech National Insurance contributions (NICs) The government has announced a cut […]
