When you registered to become VAT registered you will have the option to choose the Flat Rate Scheme. It is worth considering whether this is a suitable scheme for your business because their are benefits to using it in your first year of VAT registration. …
If you need special clothes to do your job you may think the cost of these is an allowable business expense. There are only a few items of clothing which are allowed as a tax deductible expense. …
Accounts software such as Xero, Quickbooks and Sage are keen to tell you in their adverts how easy doing your own bookkeeping is if you use their software. Just the press of a button will submit …
An increasing number of businesses are using proforma invoices to obtain payment from their customers in advance of supplying goods. Why do they do this and what is the difference between a proforma and an invoice? …
I have always recommended that business owners have an accountant for compliance services and tax advice and a bookkeeper to keep the day to day accounts up to date along with VAT returns filed promptly. Having two professionals with different responsibilities ensures you are receiving the best support possible for your business. …
