Mar 15, 2022 | Information, Tax, Vault
Inheritance tax (IHT) is one of the most hated taxes there is, mainly because for many people their estate faces a 40% tax rate which is higher than they would have paid during their lifetime. HMRC’s latest figures reveal there has been a £700m increase in IHT...
Mar 10, 2022 | Business Start Ups, FAQ, Making Tax Digital, QuickBooks, Vault
Starting 1 April 2022, all VAT (value-added tax) registered businesses must comply with Making Tax Digital (MTD), regardless of what their turnover is. Up until that point, businesses under the VAT threshold (turnover less than £85,000 per year) didn’t have to comply...
Nov 8, 2021 | Expenses, Vault
In the UK, if you are making taxable supplies and your turnover exceeds £85,000, you must register for VAT. In certain circumstances, even if your turnover has not exceeded the threshold, you can voluntarily register for VAT. From April 2019, most businesses (there...
Jun 26, 2021 | FAQ, HMRC, UTR, Vault
What is a UTR? A UTR is a 10-digit number Unique Taxpayer Reference. You will automatically be sent it when you: register for Self Assessment set up a limited company Where do I find my UTR? Your UTR will be on previous tax returns and any other documents received...
Jun 26, 2021 | FAQ, VAT, Vault
What to do if you have lost your VAT registration certificate. In order to register for Making Tax Digital (MTD) or to authorise your accountant to file your VAT returns for you you will need to know your Effective Date of Registration for VAT. Whilst this can...
