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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...

VAT Global Accounting Scheme: Record Keeping & Invoices

If you have chosen to use the VAT Global Accounting Scheme then you need to make yourself aware of the VAT records and invoice...

VAT Global Accounting Scheme: An Overview

Under the VAT Global Accounting Scheme the amount of VAT you pay is 1/6th of the difference between the amount of items you sell...

VAT Second Hand Margin Scheme: Filling Out Your VAT Return

The VAT Second Hand Margin scheme carries with it specials rules when calculate the right numbers you need to include when filling out your...

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.