As an e-commerce business, you rely on efficiency, automation, and accurate information to help you make informed decisions and grow. We are proud advocates of Xero as the cloud accounting solution of choice for e-commerce businesses. One of the benefits using a system like Xero is the ability to access data in real time, but the information is only as up to date as you enable it to be.
Cash flow has been a real issue for many businesses over the last few months, and you might have found yourself in a position struggling to pay your taxes to HMRC. The good news is that HMRC are encouraging businesses and individuals to contact them to set up Time to Pay arrangements (TTP).
Depending on how businesses and self-employed individuals prepare their accounts, there could be unexpectedly large tax bills for those that have received small business or retail, hospitality and leisure grants during the pandemic as early as this tax year.
There are big changes on the horizon for all UK businesses, as the end of the Brexit transition period inches closer. But for e-commerce companies, additional significant changes are due to happen next year - the EU’s e-commerce directive was due to come into force on 1 January 2021, the same date as the end of the transition period.
At the beginning of the month the Minister for Regional Growth and Local Government, Simon Clarke MP, announced £20 million of new government funding, set to help smaller businesses recover from the effects of the coronavirus pandemic.
Online marketplace Amazon is to increase fees for UK sellers next month by 2%, in response to the introduction of the UK’s digital services tax (DST), in a move which is likely to increase costs for small businesses and traders who use the platform
You’re running a restaurant and will be registering for the Eat Out to Help Out Scheme, where you can claim back the 50% discount offered to customers for supplies made on Mondays to Wednesdays between 3rd August and 31 August 2020.
As you are offering a discount to customers on their bill, does this mean you only pay VAT to HMRC on the discounted amount?
As the situation changes we'll be updating this page to keep you up to date with the latest developments. We'll cover all of the different financial support measures introduced by the government, as well as advice to help you manage your finances during business disruption.