01708 722142 kim@mawney.co.uk

5 Benefits of Voluntary VAT Registration

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...

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Pre-Trading Expenses

“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...

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Is it time to leave the Flat Rate Scheme?

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...

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What the budget means for small businesses

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...

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Do you need to set up a limited company?

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...

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