If you're a business owner in the UK and you've registered for VAT, there may come a time when you need to cancel your VAT registration. Whether your business has ceased trading, your turnov… Read More

Ever found yourself in that all-too-familiar scenario where you're enjoying a lovely meal at a restaurant, only to be jolted back to reality by a confusing bill? It's a dance of numbers with… Read More

Private limited companies are businesses owned by shareholders who limit their liabilities to the original share value. Legal structures provide businesses with a sense of greater substa… Read More

Starting a pest control business in the UK can be a promising venture, given the consistent demand for professional pest management services. To embark on this entrepreneurial journey, one m… Read More

Are you tired of being overburdened and looking for ways to reduce the tax burden and be tax-efficient at the same time? In this guide, we will talk about how to make the most of your ISA co… Read More

What is Tax Accounting? Tax accounting constitutes a framework of accounting methodologies that prioritize tax considerations over the presentation of public financial statements. In essence… Read More

In the United Kingdom, large corporations are required to pay their Corporation Tax electronically and in instalments. The rules for payment differ based on the company's annual profit rate… Read More

Almost £200bn of tax reliefs handed to businesses and individuals each year should come under greater government scrutiny to prevent fraud and abuse, according to an all-party group o… Read More

Deregistering VAT in the UK refers to the process of cancelling a business’s VAT registration with HMRC. This means that the business will no longer be required to charge VAT on their… Read More

The reverse charge is a mechanism within the Value Added Tax (VAT) system that changes the responsibility for the reporting of a VAT transaction. In a reverse charge scenario, the recipient… Read More

Navigating tax compliance in the UK can seem a daunting task, given the intricacies of the country's tax laws. However, with careful planning and a few strategic steps, it is entirely manage… Read More

Understanding Value Added Tax (VAT) and knowing how to claim it back can save businesses and individuals a significant amount of money. This article provides a step-by-step guide on how to c… Read More

New data out today from HMRC today showed the estimate of the tax gap across all taxes and duties administered by the tax authority to be £35.8bn or 4.8% of theoretical tax liabilitie… Read More

A company limited by shares is a legal entity that is owned by shareholders, whose liability to company creditors is limited to the amount they agree to pay for their shares. Designed for co… Read More

Introduction -UK VAT guide for contractors and small business  This HMRC VAT guide (United Kingdom) is a handy reference point as it covers VAT for contractors and small businesses in t… Read More

The Making Tax Digital (MTD) initiative is a major shift in the UK's taxation system, revolutionizing the way businesses and individuals manage their taxes. Launched by Her Majesty's Revenue… Read More

Introduction  This article is the official UK contractor expenses guide from Contractor Advice UK. The advice here applies to UK limited company contractors with regard to what expenses… Read More

By Russell Gammon, Chief Solutions Officer at Tax Systems HMRC is buckling down on the way it has been handling corporate compliance to ensure organisations get their tax right the first ti… Read More

On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get government debt falling all whilst avoiding… Read More

On 15 March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get government debt falling all whilst avoiding… Read More

Her Majesty’s Revenue and Customs’ Time to Pay Arrangements (HMRC TTP) is a system set up to help businesses and individuals who are in debt to HMRC. Under the arrangement, HMRC… Read More

If you don’t register for VAT or don’t understand how the system works, HMRC could penalize you severely, damaging your reputation. The rolling 12-month period used in VAT… Read More

It happens to be a time-consuming process for self-employed individuals and small businesses when they will have to file tax returns by the end of every tax year. Considering the situation… Read More

For a lot of small business owners, bookkeeping is one of those boring chores you’ll do anything to put off until tomorrow. Of course, tomorrow never comes and the task becom… Read More