Guide to Changes of the Flat Rate VAT Scheme

Guide to Changes of the Flat Rate VAT Scheme

Small businesses which fall into the ‘Limited Cost Traders’ category will be primarily affected by the changes to VAT Flat Rate scheme. These significant changes will affect the amount of VAT small businesses will pay. When will the new VAT changes come into effect?...
A Guide to HMRC’s ‘Making Tax Digital’

A Guide to HMRC’s ‘Making Tax Digital’

HMRC’s ‘Making Tax Digital’ will be achieved by 2020. These changes reflect the importance of the digital world in our lives and have been incorporated by HMRC. Their aim is to ensure a more convenient service and user friendly interface online. Here are some of the...
VAT basics for Freelancers

VAT basics for Freelancers

While Freelancers have much simpler filing and tax requirements, it is compulsory for them to register for VAT if their turnover is £83,000 or over each year. Freelancers must submit a VAT return every three monthsRates of VAT for Freelancers The standard rate of VAT...
Why use an Accountant to do your VAT Returns?

Why use an Accountant to do your VAT Returns?

A LIMITED COMPANY needs to register for VAT with HMRC when they reach £81,000 turnover and submit a VAT return every quarter. To ensure that you get this VAT return right, it is recommended that you use an accountant. Although you could complete your VAT return...