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Where can I find my company tax information?

If you do not already have one, you should set up an online HMRC account for your company so that you can see all your tax information in one place. Be aware that your accountant may have already done this…

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Do you need to charge VAT on recharged expenses?

Clients often ask us if they need to charge VAT on the expenses that they recharge onto their own customers. The simple answer is yes, you charge VAT if you benefit from the expense, and no, you don’t charge if…

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Top Ten bookkeeping mistakes (and how to avoid them)

Here are our Top 10 Bookkeeping mistakes and how to avoid them This seems obvious, but there are people still leave everything to the last minute and let the bookkeeping build up.  We know you didn’t go into business…

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UPDATE: The changes are being delayed – HMRC to close and reduce customer helplines

From the 8th April HMRC will be changing the operating hours of its customer support helplines – in some cases closing them entirely – in an attempt to push customers to use online services more. Self assessment –…

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HMRC to receive more information from online selling platforms

It has been announced that HMRC will be receiving more information from online selling platforms such as eBay, Vinted and AirBnB to ensure that people are paying the correct amount of tax. HMRC has always been allowed to…

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Is there VAT on public transport?

We are often asked by clients what VAT is applied to public transport, and what they can claim back on their VAT returns as input VAT. The short answer is, usually nothing. Trains and buses Trains and public…

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Is the Christmas party tax allowable?

It may only be October, but many of us will have already booked our work Christmas parties and functions to celebrate. But what are the costs to your business of the Christmas party and what is tax allowable…

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What are the different VAT rates and what do they mean?

We are often asked ‘what all the different VAT rates are and what they mean?’ Zero-rated is the same as Exempt, right?  Wrong.  Read our guide below to make sure you understand the difference between all the rates…

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New VAT penalties for late payment and filing

New VAT penalties for periods starting on or after 1 January 2023. HMRC have introduced new penalties for the late filing and payment of VAT for 2023. Previously, if you missed filing you would pay a percentage of…

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When do you need to register for VAT?

When do you need to register for VAT? You need to register your business for VAT if your total VATable turnover goes over £85,000 in any rolling twelve month period, or you expect your turnover to exceed £85,000…

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