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 […]
15
Apr
Apr
Because it’s gone a bit quiet now ‘Do I Need to Sign Up to Making Tax Digital?’ isn’t a question I hear anymore. But, with the government’s push towards digitalisation of tax processes, MTD is still an important aspect for businesses and individuals alike. In this blog post, I’ll break down what MTD is, who […]
08
Apr
Apr
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 […]
01
Apr
Apr
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 […]
25
Mar
Mar
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 […]
18
Mar
Mar
One of the most common questions I get from small business owners is, “Do I need to register for VAT?” It’s a crucial question that can have significant implications for your business’s finances and compliance obligations. In this post, we’ll guide you through the key factors to consider when determining whether VAT registration is necessary […]
13
Mar
Mar
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 […]
04
Mar
Mar
Whether you’re a seasoned property investor or a first-time landlord, understanding the tax situation when it comes to your rental property is crucial for optimising your returns. In this guide, we will delve into the key aspects of rental income in the UK and explore strategies to maximise your profitability. Understanding Rental Income Rental income […]
26
Feb
Feb
Managing your finances effectively is crucial for the success and sustainability of your business. When working for yourself, a key aspect of that is understanding and taking advantage of allowable expenses. In this blog post, we’ll delve into the world of allowable expenses for the self employed, helping you navigate the complexities of the UK […]
19
Feb
Feb
‘What travel expenses can I claim?’ is a question we’re often asked by clients So we thought we’d write this post to help you understand the answer to that very question. What travel expenses can I claim? Traveling for business or work-related purposes often involves a myriad of expenses, and understanding what you can legitimately […]
