Claim a Deduction for Pre-Trade expenses
As a general rule, a deduction is allowed for expenses that are incurred wholly and exclusively for the purpose of the trade. Thus, for the deduction to be available, the business must have started tr...
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Cloud Accounting and how it benefits your business | The Accountancy Solutions
What is cloud accounting? Simply put, cloud accounting is accounting that’s done online. You’ve probably tried internet banking, or stored pictures in an online database. That’s all...
Is the VAT Flat Rate Scheme for me | The Accountancy Solutions
The VAT flat rate scheme (FRS) is a simplified VAT scheme that enables VAT registered business to work out how much VAT they need to pay over to HMRC by applying a flat-rate percentage to their VAT-in...
Tax Reference Number and Unique Taxpayer Reference
Dealing with self assessment tax and tax compliance can be a real headache sometimes, and the minefield of terminology doesn’t always make things any easier. This is especially true when terms may sou...
WHAT IS VAT1 FORM | The Accountancy Solutions
WHAT IS VAT1 FORM If you’re starting a new business as self-employed, sole trader, partnership or limited company or just want to registe your existing business for VAT or taking over an existing runn...
WHAT IS SA103 FORM | The Accountancy Solutions
Self-Assessment Tax Returns must be filled if you meet one of the eligibility criteria of HMRC. IT does not depend if there is any taxable income or not, Its an obligation and compliance. Self Employe...