-
Subscribe
Subscribed
Already have a WordPress.com account? Log in now.
WHAT IS IT? It is a simplified VAT scheme that allows businesses (with £150,000 turnover or less) to charge standard VAT on sales but pay over a reduced amount to HM Revenue and Customs (HMRC). To illustrate (let’s ignore purchases for simplicity): Standard VAT business Net Sales £100 Standard VAT 20% £20 Gross Sales £120 … Continue reading
Sole Trader? Make sure you know which records to keep and make sure your records are up to date. HM Revenue and Customs publishes a good guide aptly named, “A general guide to keeping records for your tax return”. Download, save and refer to it regularly to make sure you are aware of your responsibilities. … Continue reading
Phoenix Debola 