by Alastair Wood | Oct 3, 2013 | Business Advice, Tax Advice
For sole traders very little needs to be entered on a sales invoice apart from what it is for and the amount, but more is needed for a VAT registered limited company. There are HMRC requirements for a VAT invoice and separately by Companies House for the company: VAT...
by Alastair Wood | Aug 15, 2013 | Tax Advice
You must register for VAT if your turnover for the last 12 months is greater than £79,000 (2013/14) or you expect it to go over that limit in the next month, however there are situations where it may be worth registering if you are under the limit: If all of your...
by Alastair Wood | Jan 19, 2011 | Tax Advice
The flat rate scheme is one of the simplified ways HMRC offers for calculating VAT. While you still have to charge VAT on sales, you do not have to record VAT on all of the individual entries. You may well be able to save money by registering. There is one simple...
by Alastair Wood | Jan 4, 2011 | Tax Advice
The VAT increase from 17.5 to 20% has been well publicised and everyone should be updating their software or calculations to account for VAT at 20% from 4 January. There are however various reasons why VAT may still be charged at 17.5%: The VAT charge is based on the...
by Alastair Wood | Dec 14, 2010 | Tax Advice
As we move into party season there are a number of issues which are pitfalls in planning the Christmas party. Some of the facts follow: You may claim £150 including VAT per person per annum This may cover more than one event providing the total does not exceed £150...
