We all pay VAT on most of the items or services we purchase. If you run a business, then you may also need to become involved in the VAT system as a collector. It sounds confusing (to be honest it sometimes can be), so we’ll use this article to “bust the jargon” surrounding VAT. We’ll…
Even a teeny-tiny bookkeeping error can snowball into a time-consuming mess, sometimes requiring a colossal effort to resolve. As time and effort are vital resources for all small business owners, we’re constantly striving to help users focus on the areas of their business which will have the most impact. It’s why the good folk here…
Why has the government introduced Making Tax Digital for VAT? HMRC have issued VAT notice 700 / 22 (Making Tax Digital for VAT) so that accountants and businesses will be able to efficiently file and preserve records digitally going forward. The modernised process, will comply with the legal requirement of submitting VAT records using software,…
VAT Returns are no one’s favourite thing. Aside from the endless number of receipts you have to sort through from the last six years, once you’ve input all the data in your own cloud accounting solution you then have to go to the HMRC portal and re-enter the information there to submit your return….
