Value-Added Tax (VAT) can be more of an art form than a science, with complexities and nuances that defy simple categories. While the general principles of VAT are well-known, some particular cases highlight the intricacies of the system. In this ar ...
Being a sole trader is a fantastic way to take charge of your professional life. However, it also means that you're in charge of every financial aspect of your business. From managing expenses to saving for taxes, the financial responsibilities can ...
Financial management forms a critical pillar of any business. Among the various fiscal obligations that a business owner must manage, one responsibility that often induces anxiety is the prospect of a financial investigation conducted by Her Majest ...
There was a lot to digest after todays budget announcement, so here is a recap: Income Tax Threshold - previously, 45p in every £1 earned above £150,000 would be paid in income tax. However, the new budget announcement has seen this threshold drop ...
The Digital Age - Making Tax Digital (MTD) - What is it? 'MTD is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs. HMRC’s ambition is to become one of the m ...
Do I need register with HMRC for VAT? You must register with HMRC for VAT when your sales turnover reaches the VAT threshold of £90,000 (2024-25) in any rolling 12 month period. If you use an accounting software you can easily keep track of this b ...
Should I open a company or stick with being a sole trader? I hear this question come up quite a bit and to be fair with all the tax savings being slowly stripped away from limited companies, it is no wonder business owners are in a bit of a quandary ...
In the realm of business, maintaining financial health is paramount. Yet, between managing day-to-day operations, marketing, staffing, and more, the state of your company's finances can often be overlooked. This is where a holistic financial review ...
