by Lisa Dickson | Jun 7, 2017 | HMRC and tax
Once you are registered for VAT what changes do you need to make to your bookkeeping process? What does this mean for your customers? And what do you need to think about when preparing your first VAT return? 1. Increase your prices Unless you want to cover the...
by Lisa Dickson | Jun 5, 2017 | HMRC and tax
Whether you are newly registered for VAT or you have been registered for a while – be aware of these 9 common VAT pitfalls. These are the most frequent errors we see when we are reviewing small business VAT returns. 1. Heavy penalties from failing to plan for...
by Lisa Dickson | May 31, 2017 | HMRC and tax
Updated 09/03/2024 You are legally obliged to register for VAT when your business ‘taxable supplies’ within a rolling 12 month period exceeds the VAT threshold. As of 1st April 2016, the VAT threshold was £83,000. This increased to £85,000 from 1st April 2017 and...
by Lisa Dickson | May 27, 2017 | Small Business Accounts
A director has statutory duties under the Companies Act 2006 and these duties are owed to the company which is a separate legal entity in its own right, rather than the shareholders. General duties under The Companies Act 2006 The Companies Act 2006 sets out 7 general...
by Lisa Dickson | May 16, 2017 | HMRC and tax
In very simple terms invoices or receipts tell a customer what they have bought from you and whether it has been paid for or is still to be paid. What must you include on your invoice? Once registered for VAT, you must show the following details on any VAT invoice you...
