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Recently, a former nightclub dancer was confronted with back taxes and penalties of over fifty seven thousand pounds (£57,000) after years of non-declaration; apparently, she didn’t know that non-British citizens and students paid income tax. The non-payment issue only came to light when she applied for citizenship and needed to prove her tax status. If … Continue reading
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
Phoenix Debola 