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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...
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How individuals and families can save taxes in 2017/18. The UK tax system provides reliefs and allowances to encourage you to spend or invest in certain ways. Using those reliefs as they are intended is the fiscal equivalent of obeying the Highway Code. If you divert from that code, by parking incorrectly, you would expect a penalty. The tax system also imposes penalties to discourage bad behaviour.
In some cases sponsorship is a great way to advertise your businesses. It is also about tapping into the passion of your target audience and having a story to tell. But when is it an allowable expense for tax purposes and when is it justifiable to claim back the VAT...
When you register for VAT there will be a crossover period between submitting your application for VAT and getting your VAT number from HMRC. You can’t charge or show VAT on your invoices until you get your VAT number. However, you will still have to pay the VAT to...
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If you enter into a self-bill arrangement with a VAT registered supplier, there are certain conditions you will need to meet before you can raise a self-bill purchase invoice: you have to have a self-bill agreement in place with your supplier, see The Ins and Outs of...
Updated 23/03/2017 Sometimes it would be much faster and more efficient if you were to enter your suppliers' invoices on your accounting system and send them a copy of their invoice afterwards! Well, you can do that if you have a self-billing arrangement with your...
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Chancellor Philip Hammond described his first and last Spring Budget as one that “takes forward our plan to
prepare Britain for a brighter future”.