Hop onto the VAT tool whenever you need to review your returns, save for your VAT bill and, when you’re ready, submit your VAT return to HMRC. Where can I find the VAT tool? Once you’ve subscribed to the Business Toolkit in your mobile app, log in to online banking on your ...
If your company is experiencing VAT and PAYE arrears or unpaid tax, our range of services can assist you with: Time to Pay schemes HMRC Payment Demands Threat of bailiffs Winding up Petitions Unfair Penalties Moorfields’ Business Support Team specializes in providing confidential assistance and supp...
Priestly, Chris
HMRC have recently introduced Making Tax Digital (MTD) for VAT, which means businesses registered for VAT with a taxable turnover above the VAT registration threshold of £85,000 will need to keep VAT records digitally and file their VAT returns using MTD compatible software. Fortunately, there...
The profits are calculated by taking your income (net of VAT ifVAT-registered) and deducting anyexpensesthat are ‘wholly and exclusively’ for the business. HMRC and its ‘wholly and exclusively’ test The ‘wholly and exclusively’ requirement is to prevent expenses that are really nothing to...
38.1% for the additional rate If you pay yourself a salary from a limited company, you’ll need to deduct Class 1 National Insurance employee contributions from this and pay these to HMRC. Your company will also have to pay Class 1 employer National Insurance contributions at 13.8% unless thi...
Payroo Internet UK Payroll is a HMRC RTI PAYE recognised web based UK payroll software. This UK Payroll Calculator provides comprehensive UK payroll solutions for small companies
At Gibson Booth, we deal with many businesses that have fallen behind with their payments to HMRC, often as a result of bad debts or other unexpected expenses. If you have tax arrears, it’s important to put in place appropriate measures as soon as possible, to help you to effectively...
As a small business owner, there are some effective tax rates you are required to pay to HMRC each year. The percentage of tax that you end up paying depends on your earnings, so it’s also impacted by the type of business that you operate. But do you know what the marginal tax rate...
It introduces, with effect from May 31, 2000 an automatic extra week to submit a payment and value-added tax (VAT) return where the business is paying the VAT liability electronically. Currently, a seven-day extension of this nature is allowed where businesses apply specifically for it, but ...