HMRC has published a check list of issues you will need to deal with prior to 31 October 2019. The check list has been sent to all businesses that already trade with the EU or the rest of the world. The text of the letter is reproduced below, and this contains the links to the…Read more
Can you claim back the VAT when you buy a car?
The short answer to this question is a resounding “no”, but as always with tax, there are exceptions. Obviously, if you are in business and not VAT registered, you cannot reclaim the VAT added to any of your purchases. If you are VAT registered HMRC has published the following guidance for VAT recovery when acquiring…Read more
Spend Less Time Chasing Money and Get Paid Faster
As a business owner you know what it’s like. Reminders, emails and phone calls all to get the money that you’re owed into your bank account. Fortunately, there’s a new way to get paid: online payment services. Getting paid online is hassle free for both you and your customer. Add a payment service to your online invoice and your customer Continue ReadingRead more
How much tax do you pay on your dividends?
If you own a small limited company your shares entitle you to draw a return on your shareholding – in common parlance these returns are called dividends. A company can only pay dividends if it has current or accumulated tax-paid reserves. For most smaller companies this will be described as reserves or retained profits on…Read more