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Should I Register my Business for VAT?

Businesses are responsible for collecting VAT from end consumers on behalf of the government - they collect VAT from their customers then pay it...
Is there VAT on Rent Deposits

Is there VAT on Rent Deposits?

Generally only commercial landlords have to consider the question of VAT on rent deposits. Residential landlords are outside the scope of VAT and so...

Can I File a Nil VAT Return

You can file a Nil VAT Return only in certain circumstances.  These are where: Your Business made no sales Your Business made no purchases Even...

Do I Add VAT to a Customers Late Payment Charge

If you impose a late payment charge or interest onto a customer or client who has not paid then you do not pay VAT...

A Guide to Going from Non VAT Registered to VAT Registered

Congratulations your business growing!  But although going from Non VAT Registered to VAT Registered is a milestone for your business, it does bring with...

VAT Late Payments: Fines, Penalties & Interest

VAT Late Payments are not looked upon favourably by HMRC and be an indication of something more serious within a business such as a...

VAT Margin Scheme & Horses

If you are in the business of buying and selling second hand horses and are facing, or already are, VAT registered.  Then the second...

VAT Second Margin Scheme v. Global Accounting Scheme

The Second Hand Margin Scheme and Global Accounting Scheme are similar in principal, with the Global scheme being a simplified version of the margin...

Global Accounting for Purchases over £500

Individual items that you have purchased for over £500 each cannot be included in the global accounting scheme (but you can use the VAT margin...

VAT Global Accounting Scheme: Calculating Your Margin

Under the Global Accounting Scheme you pay VAT at 1/6th of the difference between the amount of items you sell in a quarter and...

Freeagent UK Review 2018: Cloud Accounting Software 30 Days Free +...

The Simplest bookkeeping system designed just for freelancers and the self employed. Bank feeds, automation, snap receipts, time tracking, invoicing and much more. Find out more about Freeagent and how I use it in my business to automate my bookkeeping and tracking.