The pros of garden offices are pretty clear for a lot of home workers. Your own dedicated space to work and look out into the garden, less interruptions from family and a safe place to store all your work. But it can be quite an investment, and for a lot of people the advice regarding […]
Tax rules for a garden offices Read More »
The VAT flat rate scheme provides an alternative method of calculating VAT, whereas the annual accounting scheme provides a different way to report VAT. It is designed to help businesses reduce their admin by only filing one VAT return a year instead of four. VAT is still paid in installments. You can choose to either
VAT Annual Accounting Scheme Read More »
A lot of people hear VAT, think 20% and stop there. However, there is an alternative way for small businesses to work out how much VAT they need to pay HMRC, and this is called the VAT flat rate scheme, its often shortened to VAT FRS. It is designed to help small businesses reduce their
VAT Flat Rate Scheme Basics Read More »
When your company year end comes around and its time to file your accounts it can be a very confusing time with directors often being unsure of the paperwork and information needed. This guide is intended to make the process a bit easier for the first time directors, and for those that have done it
What is the year end process for Limited Companies Read More »
Let’s be honest here, for a lot of people working from home is the dream. Laptop out, PJs on, sitting the sofa with the dog by your side while you send those emails is the ultimate fantasy for some of us! It also makes life much simpler for some parents and can really benefit those
Use of Home Expenses – Sole Traders Read More »
There are a few options for claiming home offices expenses as a limited company. We go through them in this post starting with the simplest, and going on to the most complex. FLAT RATE AMOUNT The first is using HMRC’s flat rate amount. This is by far the simplest way and allows you to claim
Use of Home Expenses for Limited Companies Read More »
A question we get asked regularly is around what businesses can claim for phone and internet expenses. As always the rules differ for sole traders and limited companies! Limited Company – Can I claim for my home phone/broadband? Unfortunately much to many business owners annoyance, the answer is usually no. The old HMRC rule of
Use of Home Expenses – Phone and Internet Read More »
Are you looking for a way to treat yourself or your employees and reduce your tax bill? Then you need to know about Trivial Benefits. Under HMRC rules you are able to provide gifts up to the value of £300 a year to directors and employees, at £50 a time, tax free. You don’t have
What are Trivial Benefits? Read More »
Every limited company director has experienced the moment of uncertainty regarding whether they can claim for something they intend to buy or not. Its important to know what you can claim to avoid paying more tax than you need to, and to make sure you don’t buy things through the company that aren’t allowable business
Key Limited Company Expenses Read More »
As a Sole Traders it is important to know what you can claim to avoid paying more tax than you need to, and to make sure you don’t buy things that aren’t allowable business expenses. The tricky thing for the self employed is knowing what you can and can’t claim! As with all expenses the
Sole Trader Expenses Read More »
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