Smarter accounting

How to register with HMRC as Self-Employed

3 January 2017, Advocates, Artists, Barristers, Creative Industries, Musicians, Sole Traders

The first task in working out if you need to register with HMRC is to assess whether you are self-employed. 

Money collected by Digital Tax Accounts

Digital Tax Accounts – the end of tax returns?

26 November 2015, Advocates, Artists, Barristers, Companies, Creative Industries, Musicians, Sole Traders

The Spending Review and Autumn Statement 2015 from Chancellor George Osborne confirms that the government is committed to Digital Tax Accounts.  The following extract is from the transcript of the speech delivered on 25th November 2015: “We’re going to build one of the most digitally advanced tax administrations in the world.  So that every individual and every small business will have their own digital tax account by the end of the decade, in order to manage their tax online.”

Pre-registration input VAT

12 May 2015, Advocates, Artists, Barristers, Companies, Musicians, Sole Traders

Input VAT is the VAT you pay on purchases of good and services.  Once a business is registered for VAT, this input VAT can be reclaimed as long as it relates to taxable supplies.  Under specific circumstances pre-registration input VAT can be reclaimed. View image | gettyimages.com Reclaim pre-registration input VAT Goods In most cases […]

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