Managing Documents at Deadline Time
Tax deadlines have a nasty habit of suddenly looming. Whether you’re waiting until the last minute to file your Self-Assessment, or you have another VAT deadline on the horizon….
Making Tax Digital
Accountants, Are You Talking To Your Clients About MTD for Income Tax?
Let’s start this with another question. Should you be talking to your clients about Making Tax Digital for Income Tax? Guidance around it is still fairly generic, so it’s difficult to offer clients much in the way of detail. But, the internet is slowly filling with articles rehashing what little is known about it. As…
Is it Easy to Submit A VAT Return Using MTD Software?
With the government in the process of Making Tax Digital, businesses are moving towards keeping finance records digitally. After several delays, the MTD for VAT scheme comes into full force from 1st April 2022. Previously the rules only applied to VAT registered businesses with a taxable turnover over the registration threshold. Under MTD, they are…
What’s the Difference Between VAT Cash Accounting and the Flat Rate Scheme?
There are a number of VAT schemes available, two of which are intended to help businesses improve cash flow and save time: VAT Cash Accounting and the VAT Flat Rate Scheme. But what are they and which is best for your business? In this article, we’ll review the benefits of both and outline which businesses…
Where Do I Find My VAT Reference Number?
A VAT number is issued when a business becomes VAT registered, and can be found on the registration certificate issued by HMRC. Once the certificate has been issued, the holder (or their agent) can create a VAT online account. What do I need to become VAT registered? Most businesses apply for VAT registration online, although…