by Alastair Wood | Feb 4, 2010 | Tax Advice
The Flat Rate Scheme was introduced to simplify accounting for VAT for small businesses turning over less than £150k net of VAT. Rather than calculating the VAT on individual sales and purchases you just work out the figure due to HMRC based on a percentage of gross...
by Alastair Wood | Jan 29, 2010 | Business Advice, Tax Advice
My finance presentation to Mumpreneurs, in association with Buss Murton solicitors, highlighted the interest there is in the possibility of going limited. While many small businesses have started off as sole traders they have evolved and grown to the extent that they...
by Alastair Wood | Jan 6, 2010 | Tax Advice
For most small businesses almost any capital expenditure is immediately allowable for tax in full provided the total value for the accounts year is less than the Annual Investment Allowance (AIA) of £50k. There are special rules for cars which are not within the...
by Alastair Wood | Dec 22, 2009 | Tax Advice
For partnerships and the self employed there is no laid down rule for claiming motor expenses, it is up to the taxpayer to decide whether to claim for tax purposes a proportion of their motoring costs, or the Revenue authorised mileage rate. Obviously you want to...
