How to Leave the Flat Rate VAT Scheme

Leaving the flat rate scheme is simple enough to do. This guide walks you through not just how to leave but also when to do it and what the implications are. Should You Leave the Flat Rate Scheme? You can leave the VAT Flat Rate Scheme either through choice or if you no longer meet (more…)

VAT Margin Scheme for Cars Explained

The VAT margin scheme for cars can save second-hand car dealers money. This guide explains which vehicles can be included in the scheme, how it saves businesses money and how to calculate figures for the VAT return as well as all the records you need to keep. How Does the VAT Margin Scheme for Cars (more…)

What is a VAT Receipt?

Reclaiming all the VAT you are entitled to will reduce your VAT bill or even create a VAT repayment. Keeping the right records is essential to support any claim you make.

How to Claim VAT Back on Expenses

If you are newly VAT registered then this guide will help you understand which expenses you can and can’t claim VAT on, how you claim VAT and the evidence you are going to need.

Can I Reclaim VAT on Cars and Fuel?

Reclaiming VAT on cars and fuel can be a complicated area. The answer depends on how you bought the car, what you’ll use it for and how you choose to claim for the cost of fuel.

HMRC Annual Maximum for National Insurance Contributions

When you are employed and self-employed you’ll pay Class 1, Class 2 and Class 4 national insurance. That can add up, especially if you have substantial earnings. HMRC sets out a maximum amount every tax year of national insurance that you need to pay. Here’s how to check if you are overpaying and how you can get a refund.