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The flat rate scheme is designed to simplify the VAT accounting process for small businesses with taxable turnover of £150,000 or less (as at May 2016). An overview can be found here. FILLING OUT THE ONLINE VAT RETURN FORM All the boxes on the return MUST be completed. If a box is not relevant, insert … Continue reading
I’m keeping this simple, and relevant to my client base – small limited companies, partnerships and sole traders. Here’s a list of changes to be aware of, starting this tax year: 1. Personal Allowance: Increases to £11,000 so nil tax to pay on the first £11,000 of total earnings unless you earn more than £100,000 … Continue reading
Phoenix Debola 