A TAILORED SERVICE MADE TO FIT YOUR BUSINESS PERFECTLY
We value our close relationships with clients. Over the past 10 years, we have worked with companies with every kinds of demand, hurdle, structure and goal. This experience has allowed us a wealth of knowledge that helps us reach our primary goal to deliver and please.
MANAGE YOUR VAT EFFECTIVELY: AVOID PENALTIES, IMPROVE CASHFLOW AND PROFITABILITY.
VAT affects a wide range of business functions, with a wide range of regulations depending on your business activities and sector.
VAT is a tax that can be charged on items such as:
· Business sales
· Hiring or loaning goods to someone
· Selling Business assets
· Items sold to staff
VAT registered businesses must charge VAT on their goods and services. They may reclaim any VAT they’ve paid on business related goods or services.
If you’re a VAT-registered business you must report to the HMRC the amount of VAT you’ve charged and the amount of VAT you’ve paid. This is done on VAT return, which is usually filed every 3 months
Accounting for VAT
You must account for BAT on the full value of what you sell, even if you:
· Receive goods or services instead of money
· Have not charged any VAT to the customer, whatever price you charge is treated as including VAT.
If you charged more VAT than you’ve paid, you must pay the difference to the HMRC. If you have paid more VAT than you’ve charged you can reclaim the difference from the HMRC.
The UK’s decision to withdraw from the European Union will have ramifications for all people and organizations in one form or another; whether that be through the cost of material or shipping tariffs.
Alongside the boom in demand for gin, has come its potential price rise of more than 11p as sellers pass on the cost of sugar tax to consumers.
There are many notable tax advantages to incorporating your business. Deciding if and when to take your company to the next level should take into consideration all these implications before making it official.
The temptation to draw a sum of your pension before you hit 55 can be all too much for some. Companies have latched onto the idea of 'early pension release' and those enticed in are losing out on huge sums of money. While this isn't technically illegal, they will often hide the terms and conditions of your withdrawal within the small print of their policies. Here are a few things to look out for:
If you're due a tax refund, the temptation to flitter the extra cash away on short-term luxuries can be hard to resist. Whilst temporary pleasures are all well and good, the sensible thing to do is use the money for something that will further enhance your financial situation.
Inheritance tax (IHT) has been declared the most disliked tax in a poll by the general public and it's no surprise as to why. Like it or not, it's here to stay but there have been a few recent changes that might benefit you if you're thinking about planning for the future.
As of April 2018, a sugar tax was enforced on all sugary drinks in the UK in an attempt to curb the ever-growing concern of the Nation's obesity epidemic.
How will it work?
There are 2 taxation categories: one that effects drinks containing more than 5g of sugar per 100ml, and a higher tax for sugary drinks with 8g or more per 100ml. The Office for Budgetary Responsibility stated the drinks will be levied at 18p and 24p per litre. The money raised is intended to be spent on increasing funding for sport in primary schools - an estimated £520 million.
Retirement planning doesn't have to be complicated but can often be neglected because we like to prioritise our current spending. Failing to pay into a pension or disregarding retirement saving might make your bank account a little fuller in the short-term, but when you reach an age where generating an income isn't as easy as it once was, you'll find yourself high and dry if you don't plan ahead. According to a study by Which? the average household needs £18,000 a year to cover household essentials and this doesn't include costs of any bucket-list items you might have been saving for your wonder years - keep reading to find out if you're doing enough to save for your retirement.