The coronavirus pandemic has impacted several people and businesses in the UK and US, as well as the global economy. A lot of people are concerned about the impact this could have on tax returns. This page offers some information on the effects COVID-19 might have on your … [Read more...]
Making Tax Digital
VAT-registered businesses with a threshold of £85,000 should start digitising tax. HRMC has announced this policy recently which is effective from April 1st, 2019. Even if your current turnover is less than the threshold above, you can sign up for MTD for VAT as it is here to … [Read more...]
Making Tax Digital: Everything You Need to Know
These days, a whopping 82% of adults now claim to use the world wide web daily. That means, for whatever reason - be it shopping or social media - the internet is just something that the majority of us just cannot function more than 24 hours without. It's no surprise really, … [Read more...]
Getting Ready for Making Tax Digital (MTD) with Cloud Accounting Software
If you are based in the UK the deadline of the 31st January is looming for online self-assessment tax returns. If you are yet to complete yours the pressure is now on as late returns come with a hefty fine of £100 for one day after the deadline and further penalties thereafter. … [Read more...]
VAT Facts
What is VAT? VAT stands for Value Added Tax. Companies who register for VAT add a fixed percentage on to the price of goods or services that they sell, and this is then passed to HMRC. What are the different VAT rates? There are several different rates charged for goods … [Read more...]
