by yasiradnan94 | Mar 8, 2020 | Accounting, Advice, Business, Financial planning, News, Small Businesses, VAT
Businesses can reclaim VAT on costs incurred for their business provided they will be used in making VATable supplies (i.e. sales that include VAT). The law specifically blocks VAT reclaims on entertainment costs except for those incurred on staff entertainment and...
by yasiradnan94 | Feb 3, 2020 | Accounting, Advice, Business, FAQs, Financial planning, Small Businesses, Tax planning, VAT
It is common for many businesses to wish to avoid the requirement to be VAT registered. As the law currently stands a business making taxable supplies must register for VAT if sales exceed £85,000 over a 12 month period. This would mean a potential increase in price...
by yasiradnan94 | Jan 14, 2020 | Accounting, Advice, Business, FAQs, Financial planning, News, Tax planning, VAT
The number of scams involving bogus HMRC communications is increasing as the self-assessment payment deadline approaches. This blog highlights warning signs to be wary of. If unsure, speak to your accountant. According to HMRC statistics, in 2018/19 it received around...
by yasiradnan94 | Dec 9, 2019 | Accounting, Advice, Contractors, FAQs, News, Tax planning, VAT
Teachers often spend their own money on things needed to do their job. What they can claim back against their tax bill often causes confusion. This blog aims to clear things up. Who can claim? You may be able to claim tax relief if you are an employee (including if...
by yasiradnan94 | Jul 19, 2019 | Accounting, Advice, Business, FAQs, News, Small Businesses, Tax planning, VAT
Businesses can operate under various different structures and there may be various reasons for choosing a particular one. Whilst there are various advantages of operating as a sole trader there also come with it important disadvantages. Personal Liability A sole...
by yasiradnan94 | Jul 13, 2019 | Accounting, Advice, FAQs, Landlords, News, Property, Tax planning, VAT
Some transfers of value are exempt from IHT and this article aims to highlight these. Read on to find out more. No tax is particularly liked by the taxpayer but it is fair to say IHT is amongst the most hated. Certain transfers of value are however exempt from IHT,...