Tax might be inevitable, but it’s also pretty confusing at times. Find out how and when you need to pay tax in your business, what tax relief and allowances are available, and discover tips and advice to help you keep good financial records quickly and easily.
Bridging software allows businesses to link their financial records to HMRC in a way which complies with Making Tax Digital rules. Quite literally, it ‘bridges’ the gap between non-compatible records (such as spreadsheets), and HMRC. Making Tax Digital: A quick rundown Though Making Tax Digital compliance can still send a shiver up the spine…
Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is going to transform the way landlords and business owners report what they earn to HMRC. Despite the confusing acronyms, it’s vital that business owners and landlords familiarise themselves with Making Tax Digital and what it means for them, so they can be fully compliant…
Making Tax Digital (MTD) for VAT is in full swing, and HMRC will soon launch a new system for issuing VAT submission and payment penalties. The new points-based penalty system for Making Tax Digital for VAT will apply from January 2023. You can still be fined under the existing rules until then! Will I be…
Nobody wants to pay more tax than they need to, and there is no reason why you should pay more than your fair share. So, in this post, we’re going to look at the different allowances and tax reliefs that a self-employed person can claim. This isn’t tax avoidance, or any kind of shady practice….
Some people operate their businesses as a limited company right from the get-go, but many also start out as a sole trader or partnership first and then incorporate (register as a company) later. So, if you’re thinking about becoming incorporated, what kind of things should you consider? For most people it’s a scary sounding step,…
