15 Top Accounting and Tax Terms Explained
Are you new to the world of accounting and tax? When you first sign up for accountancy services or start doing your taxes yourself, it can be a bit of a headache to try and understand all the terminology….
Tax
Tax might be inevitable, but it’s also pretty confusing at times. Find out how and when you need to pay tax in your business, what tax relief and allowances are available, and discover tips and advice to help you keep good financial records quickly and easily.
When Do I Need to Submit My Self Assessment?
There’s always lots to do and plan when you’re running a business, but taking care of your tax return shouldn’t be near the end of the list. That’s right – we said it – the Self Assessment deadline is never more than 12 months away, so getting your finances records ready will help. It’s a…
Making Tax Digital for VAT
Why has the government introduced Making Tax Digital for VAT? HMRC have issued VAT notice 700 / 22 (Making Tax Digital for VAT) so that accountants and businesses will be able to efficiently file and preserve records digitally going forward. The modernised process, will comply with the legal requirement of submitting VAT records using software,…
How to Avoid the Dreaded HMRC Audit
An audit is an investigation carried out by HMRC to ensure that a company is tax compliant. It’s often a long, disruptive and stressful process where investigators run through all your financial information looking for errors or evidence of fraudulent behaviour….
Key Tax Dates for 2017/18
Getting prepared for upcoming tax dates is vital if you want to be ready for your deadlines and avoid any fees from HMRC….