Feb 6, 2023 | Expenses, FAQ, Information, Misc, News, Vat
A new VAT penalties regime was brought in this month, and any firms or individuals missing their filing deadline from January 2023 onwards will receive penalty points even if there is no VAT due to be paid. While this may sound more benign than getting a fine,...
Oct 7, 2022 | Business Start Ups, FAQ, Information, Making Tax Digital, News, Vat
HMRC are reminding all businesses who file their VAT returns on a quarterly and monthly basis they will no longer be able to submit them using the existing VAT portal, unless HMRC has agreed they are exempt from MTD. From Tuesday 1st November 2022 they will no longer...
Aug 1, 2022 | Information, News, QuickBooks, Tax, Tips
Companies and sole traders who have not yet finalised their plans to comply with Making Tax Digital are in the last chance saloon this month, and the very latest date you have to comply with MTD for paying VAT is August 7. That is the latest date on which you will...
May 29, 2022 | Business Start Ups, Expenses, FAQ, Information, ISA, Loans, Making Tax Digital, Misc, National Insurance, News, QuickBooks, Tax, Vat
Using up personal allowances is not the only reason you should see your accountant at the start of the tax year, it is also the best time to get a health and wealth check for your business too. The end of the tax year is the busiest time for your business and your...
May 23, 2022 | Business Start Ups, Information, Misc, Tax
What is a Payment on Account? If you owe more than £1000 tax you will be required to pay a Payment on Account. Payment on Account means that you pay your tax in two instalments: First in January (the usual deadline for paying the tax bill for last year) Second in July...
