You must register for VAT when your turnover for the previous 12 months has gone over a specific limit – called the ‘VAT threshold’. This is currently, fixed at £85,000, from 01st January 2021. You must register for VAT if your revenue has reached this threshold or if you believe your turnover will soon go […]

VAT accounting schemes can help simplify your VAT accounting and smooth your cashflow. So you ask……….how? Flat rate scheme. “The flat-rate scheme is available for businesses with a turnover up to £150,000 and can really simplify VAT accounting for businesses. It does away with most of the process of preparing a VAT return each quarter. […]

You should not confuse the services of a bookkeeper with the services you receive from your accountant, although both are equally important each offers a specific set of skills. Your accountant is concerned with compliance and tax planning and reporting your end of year accounts and tax calculations to HM Revenue & Customs and Companies […]