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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 […]

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 £82,000, for the period of 2015/2016. You must register for VAT if your revenue has reached this threshold or if you believe your turnover will soon […]

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. […]

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 […]