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Value Added Tax Update

HM Revenue and Customs have made changes to the VAT registration threshold form 1 April 2016 to £83,000 pa The Deregistration limit will change on 1 April 2016 to £81,000 pa Annual accounting scheme turnover limit £1,350,000 pa Cash accounting scheme turnover limit £1,350,000 pa Flat rate scheme turnover limit £150,000 pa Standard Rate 20% […]

Postal Bookkeeping Service

Quality Bookkeeping Service by Post. Q: How does it work? A: Once a month we will send to you a prepaid postal envelope. Q: Ok then what happens? A: You just post back all of your sales invoices, purchase invoices, bank statements for the month and we will process the data and aim to turnaround […]

3D Vat Taxes Crossword

VAT returns

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, for the period of 2018/2019. You must register for VAT if your revenue has reached this threshold or if you believe your turnover will soon […]

Stacks of coins with the letters VAT isolated on white background

Try an alternative VAT scheme

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. […]

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Bookkeepers vs Accountants

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 […]