by ClearwaysAccountants | May 22, 2019 | Contractor, VAT
Making Tax Digital (MTD) for VAT has now started for those that fall within the new rules. Just because you are registered for VAT does NOT mean MTD for VAT applies to you. If you are voluntarily registered then you can continue to file your returns in the usual...
by ClearwaysAccountants | Oct 3, 2018 | Business tax, Contractor, VAT
Clearways Accountants has taken part in a survey undertaken by the ICAEW (Institute of Chartered Accountants in England and Wales) which gathered member’s views on the VAT registration threshold. Readers may not be aware but HMRC are reviewing the impact of the...
by ClearwaysAccountants | Mar 28, 2017 | Contractor, Small business advice, VAT
Many contractors are VAT registered and have signed up to use the Flat Rate Scheme (FRS). It makes filing your VAT returns easier and with limited business costs, the business can make money on the scheme by paying less to HMRC than the business collects from its...
by ClearwaysAccountants | Feb 18, 2014 | Client case studies, Small business advice
The Secret Dress House Bridal is a new wedding dress shop in Reigate, selling and fitting beautiful wedding gowns to brides-to-be with all their accessories. Clearways Accountants were asked to complete all the tax and accounting for this new business. VAT Obtaining a...
by ClearwaysAccountants | Aug 21, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Pay, Expenses & Benefits, Self Employment, Small business advice
Outputs and Overnight Expenses Outputs Part of the terminology relating to VAT. Outputs are your sales and inputs are your purchases. When you complete your VAT return your sales will be included in box 6 (excluding VAT) the VAT on your sales will be included in box...
