We’re seeing a wave of letters from HM Revenue & Customs about businesses potentially exceeding the VAT threshold. Important point 👇📬 These letters often don’t actually ask for a response — they’re a prompt to check your figures, not an accusation or an enquiry. So if you’ve received one, don’t panic… but do take it […]
⚠️ HMRC VAT Threshold Letters – Read It Properly Before You Panic ⚠️ Read More »
Despite the improving economy, bad debts are still a fact of life for many businesses. HMRC is aware that not all invoices are paid on time and allows bad debt relief to be claimed by businesses that have already paid VAT to HMRC on sales invoices that remain unpaid. How bad debt relief is allowed
Be aware of VAT bad debt relief Read More »
The VAT flat rate scheme is a simple VAT scheme for smaller VAT-registered businesses. Rather than pay the difference between the VAT charged to customers and that incurred on business purchases over to HMRC, traders using the flat rate scheme instead pay a fixed percentage of their VAT-inclusive turnover to HMRC. The percentage depends on
VAT flat rate scheme – Is it for you? Read More »