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
What exactly is an invoice? What does it do and what are the core building blocks that make one? Don’t worry, this article will run through the crucial steps to be aware of when it comes to invoicing for your … 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
Find out all you need to know about IR35 by clicking here to access the government website link. –
Your tax code is used by your employer or pension provider to work out how much Income Tax to take from your pay or pension. Click here for the latest government information. –
You can get some details about a company for free, including company information, for example registered address and date of incorporation, current and resigned officers, document images, mortgage charge data, previous company names and insolvency information. Click here for more … Continued
Use form P11D(b) to report Class 1A National Insurance contributions on expenses and benefits and to declare you’ve sent form P11D to HMRC. Before you pay your VAT bill, make sure your deadline has not passed. Your deadline will be shown on … Continued