Some businesses may request a payment in advance for goods or services.If you are VAT registered it is important to know when you can claim back VAT on an advance payment. This is generally determined by the tax point which is either the date of the invoice or the date money is received. Here are six examples of different types of advance payments and how they are treated. …
Business owners must keep track of their business income on a monthly basis because growing businesses will most likely need to become VAT registered. The VAT registration threshold has been …
We had a discussion in the office today about the new rates for corporation tax which take effect from April 2023. For many of our clients who have limited companies we produce monthly management reports which show a monthly provision for Corporation Tax based on their year to date net profit. This gives them an idea of how much they will need to have available to pay their Corporation Tax bill 9 months after their year end. …
Why is it important to have the correct employment status for your worker? …
When you become VAT registered there are several things you should be aware of. …
