Making Tax Digital for Income Tax Self Assessment (MTD ITSA) is going to transform the way landlords and business owners report what they earn to HMRC. Despite the confusing acronyms, itโs vital that business owners and landlords familiarise themselves with Making Tax Digital and what it means for them, so they can be fully compliant…
Recording dividends in your accounts and paying them out to your company’s shareholders is a fairly easy process, but because many companies only declare them once a year you might not get the chance to experience how the transaction works very often. So, to help you with declaring dividends and getting your bookkeeping right, we…
The UK governmentโs โHelp to Growโ scheme aims to help business get back on track following lockdowns. Mainly targeting SMEs, the scheme hopes to help small business reach new customers, learn more skills, and ultimately boost profits. How is Help to Grow set to benefit UK businesses? Help to Grow is about giving small businesses…
Registering for VAT is a fairly straightforward process, and there aren’t any registration fees or charges to worry about. We’ll go over who needs to become VAT registered, and how to sign up. When does a business need to register for VAT? Not all businesses need to register for VAT. An odd way to…
Making Tax Digital (MTD) for VAT is in full swing, and HMRC will soon launch a new system for issuing VAT submission and payment penalties. The new points-based penalty system for Making Tax Digital for VAT will apply from January 2023. You can still be fined under the existing rules until then! Will I be…