Category: Book keeping

NEW VAT RULES FOR BUILDING FIRMS

In just over six months, builders, contractors and other trades associated with the building industry will have to get to grips with a new way of accounting for VAT. Essentially, building firms will be required to charge themselves VAT when

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MTD Facts and Fiction

All VAT registered businesses with annual taxable turnover exceeding £85,000 must comply with the making tax digital (MTD) rules for VAT periods beginning on and after 1 April 2019. However, a few businesses have been deferred until the period that

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Book-Keeping

Many businesses spend hours on book-keeping but achieve little. Many other businesses “bury their heads in the sand” and simply don’t do anything at all! There is a legal requirement for all businesses and the self employed to keep complete

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Self Employed Travel Expenses

As a self-employed trader, do you diligently record the mileage for every business journey you take? This attention to detail is necessary to convince HMRC that the cost of the journey is tax deductible. There are several apps which can

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State Pension Forecast

Do you know how much state pension you will receive when you retire? You can find this figure though your online personal tax account; click on ‘view state pension forecast’. People who reach state retirement age after 5 April 2016

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