We have previously mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses … Continue reading Self-Employed To Suffer BIG Tax Bills in 2022/2023
As the end of another calendar year draws to a close, you might be re-evaluating the past 12 months and how you can achieve your goals in the forthcoming year. MJB Avanti will be bringing you a series of bite-size health check tips. With Making Tax … Continue reading Financial Healthcheck – Software
This month we are focusing on: Accounting Software And this week are looking at: Why Is Software helpful? The first covers Making Tax Digital which will require all businesses eventually to submit returns quarterly online via an approved software … Continue reading Terrific Tax Tip – Accounting Software
This month we are focusing on: Accounting Software And this week are looking at: Why is software legal? To assist with important decision making within a business you need to have up to date and accessible software to record your financial … Continue reading Terrific Tuesday Tax Tip – Software
This month we are focusing on: Different Trading Vehicles to Consider for your business And this week are looking at: What are the requirements for a partnership at year-end? A business partnership is a specific kind of relationship formed by the … Continue reading Terrific Tuesday Tax Tip – What are the requirements for a partnership at year end?
This is a common occurrence with all types of businesses whether you have not long started or have been trading for several years. As the owner your focus is often on marketing your business, making sure revenue is coming in so bills can be … Continue reading Case Study: What Happens If You Exceed The VAT Threshold?
Making Tax Digital Is Live Making Tax Digital (MTD) is live for VAT and has been since 1st April, and yet here we are 4 months on with business owners still struggling to comply, whether it's filing or making payments, only today business owners … Continue reading Are You Struggling with HMRC’s Making Tax Digital?
Accountants and tax advisers have been able to view the VAT registration certificates of their clients listed in the old Government Gateway account (GGA) for many years. Businesses have been able to view them in the Business Tax Account (BTA). But … Continue reading HMRC removes online VAT registration certificates
Making Tax Digital (MTD) for VAT was introduced for all UK businesses making annual taxable supplies of more than £85,000 for VAT periods beginning on or after 1 April 2019. A controversial policy of HMRC has always been that a business using, for … Continue reading MTD – Recording purchase invoices for VAT
Software Integration Should Improve Productivity Introducing many different software systems at the same time may seem on the face of it to increase productivity. Software providers will often tell you that their product will streamline your … Continue reading Tips For SMEs – Avoid Reducing Productivity
Bookkeeping – for most it’s a chore that must be done rather than a task we relish. So here are some tips to help you stay on top of it… Allocate Time each week and devote it to your bookkeeping Don’t leave it to the last minute – HMRC deadlines … Continue reading Tips for SMEs – Outsource Your Bookkeeping
The uncertainty of Brexit still hangs in the air like the smell of smoke on 6th November, but HMRC will still expect your tax returns to be filed regardless of Britain's position in or out of the EU. Another month has passed and with Easter on the … Continue reading March at Avanti – What did you miss?