What insurance do new startup businesses need?
When starting a new business people tend to focus on the positives. They think about how good their idea is, how much money they are going to make and what they are going to spend it all on. They may...
View Article6 Numbers Every Business Owner Needs to Know
We’ve all seen it on Dragon’s Den. The sight of budding entrepreneurs squirming in front of the panel as they try to recall the financial information about their fledgling businesses that will go a...
View ArticleWhat can I record as Expenses?
Most things that you buy for your business can be classed as expenses. Any Corporation Tax your business pays is calculated after your expenses have been taken into account. So accurately recording...
View ArticleUK losing billions in VAT from online sales
It has been claimed that up to £2bn of VAT is being lost on sales though online marketplaces like Ebay and Amazon each year. HMRC have been targeting online sellers for a couple of years as they...
View ArticleHow to get a VAT Number
If you are selling goods or services in the UK you will be expected to charge your customers Value Added Tax (VAT). This then has to be paid to the government via HM Revenue & Customs. In order to...
View ArticleVAT Registration Problems and Issues
There are quite often a number of problems that occur both before and after VAT registration which present issues for both the business concerned and the tax man. Firstly, a large number of VAT...
View ArticleThe Advantages Of Voluntary VAT Registration For Small Business
Value Added Tax (VAT) is the sales tax levied against goods and services within the UK. Businesses with a turnover in excess of the VAT Registration Threshold (currently £70,000 P.A. 2010-2011) are...
View ArticleWhy your business should not wait to register for VAT
Registering for VAT means that you become an unpaid tax collector on behalf of Her Majesty’s Revenue and Customs (HMRC). Once registered you have to give 20% of the price of any VATable goods or...
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