As you may already know that since April 2022, it has been mandatory for VAT-registered businesses to comply with the new regulations. Unfortunately, you can no longer submit your VAT return through your existing online account. Instead you’ll need to … Continued
It’s difficult not to be overwhelmed by the scale of economic challenges facing small businesses this year. But with a little creative thinking and a proactive strategy, it’s possible to weather the storm. To state the obvious, it is not … Continued
Staying on top of cash flow is essential for any business, but it can be particularly challenging for sole traders. This is because as a sole trader, you are in charge of both bringing in money and paying bills – … Continued
Inflation is soaring. In the UK, the Consumer Prices Index – which measures the average change in the cost of a basket of goods and services over time – hit a 40-year high of 11.1% in October 2022. Experts blame … Continued
The future of digital tax is coming, and it’s going to affect almost every small business and sole trader in the UK. HMRC’s Making Tax Digital initiative is a huge change that will see all taxes filed and paid online. … Continued