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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.
Every year there are changes to the UK’s income tax rates and brackets. Since 6th April 2018, there have been a number of amended rates and brackets put into play. Below we have summarised some of the key changes that have taken place to UK tax so far this financial year.
Under current and previous rulings, banks are required to tell their customers if tax officials are looking to inspect their statements.
In a world where personal time and health can easily slip beneath the pressure to earn money and gain a successful career on our priority hierarchies, the ability to achieve maximum income and minimum hours is the ultimate dream for most.
Last month, the court case South Dakota v Wayfair Inc over-ruled the Quill Corp. v. North Dakota rule of physical presence and decided that states should be able to require out-of-state retailers to pay sales tax from customers. Retailers must still collect sales tax even if they do not own a physical store or warehouse in the state, therefore clamping down on the tax requirements for online retailers.
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: