Following these steps below will help you ensure that you ARE subject to a VAT investigation….you have been warned! 1) Do not read the VAT legislation – after all, it is thousands of pages long, and take it from me (I have read it, cover to cover, many, many times over) it is REALLY boring. […]
Category archives: Tax & VAT
Making tax digital – no spreadsheets allowed
HMRC today (14th September 2017) revealed that when their “Making Tax Digital” (MTD) rules kick in, they will not allow VAT registered businesses to use spreadsheets, they will have to use software compatible with MTD. HMRC argue that it should not be a problem since 98% of businesses already submit their VAT online, however they […]
#AskAnnette: How do I deal with disbursements and VAT?
Disbursements & VAT What Are Disbursements Let’s start by speaking about what disbursements are… A disbursement is a payment that your business makes on behalf of one of your clients. You are essentially just acting as their agent. This can be for goods or services, received or used by your client. And the customer must be […]