In today’s challenging business environment, SMEs must seize every possible advantage to survive and thrive against growing competition.
Today’s technology has made international business more accessible than ever. Armed with little more than a laptop and an internet connection, any small business or freelancer can easily work for a raft of international clients.
You wouldn’t know it from the weather, but summer is on its way - and up and down the country, businesses are busy preparing for their summer staff parties.
But while you might have the venue sorted and the catering covered, are you on the ball when it comes to the tax implications of your event?
If you’re a frequenter of coffee shops (and let’s face it, who isn’t these days?), you’ll be well used to the barrage of questions that follows almost every order.
“Black or white coffee? Would you like the sandwich heated? Eat in or take away?”
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.
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.