Starting from April 2019, most VAT registered businesses will have to comply with the new ‘MTD for VAT’ regulations and submit their VAT Tax Returns via MTD compatible software. The current process of applying VAT records to your HMRC tax account will become a way of the past, as your invoices and transactions will be transmitted via what HMRC refers to as; ‘Digital Links’ and ‘Software Bridges’. So, to get a better idea about the adjustments needed and to help you get MTD compliant, we have put together the below, Making Tax Digital for VAT complete guide.
Dividends are usually a great, tax efficient way of withdrawing money from a company by the owners. A company can declare a dividend if it has sufficient profits available within the business. However, there are […]
For some contractors and freelancers, the Flat Rate VAT scheme is a no-brainer. The scheme allows them to reduce tax costs they otherwise could not have reclaimed via standard VAT, and it considerably simplifies bookkeeping. Hence, saving […]
With Christmas just around the corner, it is worth considering what expenses you can claim through your limited company. The “Annual Party” As a director of a limited company, you are exempt from paying tax […]
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The Budget 2018 was released yesterday, and it seems it was a hugely anticipated budget for many reasons – Brexit and IR35 to name a few. Here are some of the main changes discussed in […]