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.
Currently there are over 2,200 families on the waiting list for Kensington and Chelsea social housing. Which compared to the 11,000 houses currently available, presents a huge issue for councils finding the families accommodation. The council has already spent its entire reserves of £230m on new housing for the Grenfell tower survivors, whom all fall into their borough.
Stamp duty is an area of much dispute and change in UK tax. Currently, you usually pay Stamp Duty Land Tax (SDLT) on increasing portions of your property’s price above £125,000 (for residential properties, like a house of flat).
The amount of Stamp Duty you owe can vary depending on whether or not the property is your first home and the purchase is £500,000.
Statutory accounts (commonly known as annual accounts) are financial reports that must be prepared and filed at the end of each financial year. For UK private limited companies statutory accounts are a compulsory part of the tax year.
As a business owner it is important to be aware of your companies tax obligations and liabilities. There are a number of taxes that small businesses are required to pay. Below is our breakdown of the taxes you should know about as a business owner:
The October 15th US tax deadline is just around the corner. Below we have put together a brief outline of how to get started and avoid the harsh penalties of the IRS’s long arm:
Inspired off of the Jean Royère’s furniture designs we went to see yesterday (pictured above) in the spirit of London Design Week, we have put together a brief guide for our clients on some of the expenses you can claim as a furniture designer.
There are generally much expenses incurred while working as a furniture designer than other freelance professionals. For instance, the cost of raw materials and machinery. Raw materials and any equipment required to assemble the furniture are all claimable against tax, assuming that you are buying both.
If you are based in the UK and your employees are working abroad there are slightly rule surrounding PAYE and NIC depending on where your employees are working and how long you expect them to work there.
A confirmation statement is a form that was introduced to replace the annual return (AR01) in June 2016. The purpose of a annual confirmation statement is to verify important company data registered on Companies House to ensure it is correct and up to date.
As a business owner, you are responsible for ensuring your business is compliant and reaches relevant accounting deadlines. Your business accounting period for Corporation tax is covered by your Company Tax Return.
We have worked with thousands of self-employed Marketing Consultants on their tax returns over the years. Through our years of experience, we have developed an in-depth, expert knowledge of the claimable tax expenses and deductions available to Marketing Consultants.