HMRC will be contacting you if your turnover is below the £85,000 threshold for VAT registration to alert you of your need to comply with MTD for VAT as of April 2022. MTD for VAT was introduced in April 2019 for businesses with turnover … Continue reading Making Tax Digital for VAT is on the horizon for businesses with turnover below £85,000
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 sole trader at year-end? Becoming a sole trader is the simplest way to get your new business off … Continue reading Terrific Tuesday Tax Tip – What are the requirements for a sole trader 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?
Our client is a Limited Company and runs a swim school, teaching children. The client’s turnover is close to £85,000. Is our client making exempt supplies of education and therefore does not need to register for VAT? Exemption from VAT applies to … Continue reading Private Swimming Lessons – VAT Exempt or not?
Our client runs a Café, and de-registered for VAT back in May 2018, claiming they believed their turnover would not exceed the deregistration threshold of £83,000 over the following 12 months. This was due to a slump in trade because of a local … Continue reading VAT Re-Registration Required or Not?
HMRC has outlined that VAT registered businesses and individuals will not have to file digitally come 1 April 2019 if it is not practicable to use digital software to keep records and file VAT returns due to age, disability or remoteness of location; … Continue reading Exemptions to Making Tax Digital
HMRC is working with more than 150 software suppliers who have said they’ll provide software for Making Tax Digital for VAT in time for April 2019. If your taxable turnover is above the VAT registration threshold you must follow the rules set out … Continue reading Software Suppliers Supporting Making Tax Digital for VAT