Making Tax Digital for VAT- what records must be kept digitally

June 13, 2018 | by Sian Kelly | No comments

Making Tax Digital (MTD) for VAT starts from 1 April 2019. VAT-registered businesses whose turnover is above the VAT registration threshold of £85,000 will be required to comply with MTD for VAT from the start of their first VAT accounting period to begin on or after 1 April 2019.

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Do we need to register for VAT?

June 05, 2018 | by Sian Kelly | No comments

A business must register with HMRC for VAT if its VAT taxable turnover is more than the VAT registration threshold. This is currently £85,000 and will remain at this level until 31 March 2020.

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How do I correct VAT errors?

February 21, 2018 | by Sian Kelly | No comments

Making a mistake in your VAT return is easily done. Maybe you missed something out accidentally or added up some figures wrongly. However, should this happen and you discover that you have made a mistake in a return which you have already filed, don’t panic

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A new start up business- what profits are taxed?

August 30, 2017 | by Sian Kelly | No comments


An unincorporated business pays tax on what is known as the `current year basis’. This means that, as a general rule, the profits for a tax year are taxed by reference to the profits for the 12 months to the accounting date that ends in that tax year.

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VAT flat rate scheme and relevant goods- What counts?

August 07, 2017 | by Sian Kelly | No comments

The VAT flat rate scheme is a simplified VAT scheme, which allows small traders (turnover of £150,000 excluding VAT) to account for the VAT that they pay to HMRC by reference to a percentage of their VAT-inclusive turnover.

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The new Flat Rate Percentage April 2017

March 14, 2017 | by Sian Kelly | No comments

If you are a Limited Cost Business important changes to the VAT flat rate scheme are coming.  

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