Expert accountancy and bookkeeping services for small Limited Companies

If your limited company is VAT registered, one of the most common questions is: “Do I need a VAT invoice before I can reclaim the VAT?” In most cases, the safest answer is yes. A valid VAT invoice is the main evidence that VAT was properly charged and that your company is entitled to reclaim it. But there are some important exceptions, particularly for smaller purchases and situations where the correct invoice cannot be obtained. What should a full VAT invoice contain? For la

What small business owners need to know VAT registration is one of those areas that can catch small business owners out. Many people assume VAT registration is based on their accounting year, tax year or company year end. It is not. VAT registration is based on your taxable turnover, and you must monitor this on a rolling 12-month basis. What is the VAT registration threshold? At today’s date, the UK VAT registration threshold is more than £90,000 of taxable turnover. You mus

The VAT domestic reverse charge came into operation in March 2021, introducing significant changes around how VAT is collected and paid...

Getting to grips with the basics of accounting, financial management and business strategy can be a challenge. To make things easier,...

Sorting out your tax registrations is one of the first things to tick off your to-do list as a new business owner. But knowing when (and...

The 5% reduced rate of value-added tax (VAT) has been in place since 8 July 2020. The reduced rate has been extended on numerous...

Do you prefer cash accounting or accrual accounting? We can help you figure out what’s best for your business. #SmallBusiness #cashflow...