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one offs »

[28 Apr 2010 | No Comment | ]

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Tidying things up nicely

Some clients have a fully managed service from us and some of them do their own VAT. If you’re in that second category and you now need to de-register for VAT, the you need this form:
Form VAT7
Experience tells us that when filling it out, it’s easiest to tick BOX E on page 4  and add the cessation date, skip page 5 and go directly to page 6.
Question 7 is about how much VAT you might “owe” …

on the bridge »

[9 Dec 2009 | No Comment | ]

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Claiming tax relief on the big things

All businesses can claim tax relief on business expenses. That can include items that you bought before the business started! Do you have a laptop, and any other IT kit? Is your office equipped with a desk, a chair and a book case? Here’s a typical list of things that you might be introducing. There may be things on this list that you should ignore, and there may be other special things (in …

one offs »

[12 Aug 2009 | No Comment | ]

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You have 3 months in which to register

When you first become self-employed there are a number of things you should do . . . today!

Register with HM Revenue and Customs (HMRC)
Compile a list of things that you have introduced into the business
Set up a simple accounts system to record income and expenses
Open up a business bank account
Earmark a separate savings account for keeping your tax reserve

And, before doing any of that you should think carefully about the official date …