This week I was asked “My turnover is below the VAT Registration Threshold so I do not have to register, I have heard that I can voluntary register and I was wondering what the benefits (if they are any) are of doing this?” Value Added Tax (VAT) is the sales tax...read more
“I am starting a business soon and have already started buying things for the business; I am also using my laptop for the business; can I can claim anything in my tax return for these expenses?” Well the short answer is yes you can as long as these are necessary...read more
From April 2017 Limited cost businesses will have to use 16.5% flat rate. If you are a Low or Limited cost business then it may well be time to leave the flat rate scheme or see your flat rate increase to 16.5%. A limited cost business is defined as: Amount spent on...read more
National Insurance Following the last ever Spring budget, Phillip Hammond announced that Class 4 NICs (paid by the self-employed) were set to increase from 9% to 10% in April 2018, and to 11% in 2019. This along with other measures was seen as an attack on the...read more
So you have the great idea, you have done some research and now you want to get started. One of the questions that comes up is whether you need register your own company. Well that will depend on your business plan and forecasts and how much legal and financial...read more
I was asked this week “Can I save money by claiming the marriage tax allowance?” The answer to most questions like this starts with it depends! The government introduced the new marriage tax allowance in April 2015. It will apply to couples under the following...read more
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