Forum

Invoices (receipt, invoice, vat) help.

Hi everyone,My apologies for not posting for a while, I have been really busy.The issue I have just come across is incoice/receipts.So we issue a quote to a customer and they accept.We then take a deposit payment to cover material cost and give them

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HMRC advice for making tax digital

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Self assesment tax returns -soon to be four times a year

If you missed the annoucement last year from Mr Osbourne we, who are self employed, will soon have to "do" a return four times a year. Not being overly keen to do one a year I signed up to the petition at the UK gov web site. Today i recieved the fol

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Tax statement errors affect thousands, says HMRC

From the BBC:

Thousands of people will receive a second tax statement from HM Revenue and Customs (HMRC) after their first estimate was miscalculated.

More than five million taxpayers received an initial estimate because they paid the wrong amount of

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Vehicle tax discs no longer necessary after 01 October 2014

From 1 October 2014, the paper tax disc will no longer need to be displayed on a vehicle windscreen. If you have a tax disc with any months left to run after this date, then it can be removed from the vehicle windscreen and destroyed.

Customers with

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New to self employment ? Paying tax bills

Useful Tweet from FSB;

‏"@fsb_hq : If you're a start up who has just paid your first tax bill, this from HMRC might help prepare for the next: http://www.hmrc.gov.uk/tools/sa-ready-reckoner/index.htm"

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Working tax credits.

Any advice on this for the general good or do you know what hours staff need to be over to make a claim if required ?

just a thought if any people are struggling after working hard/ costs removed.

can staff be self-employed also if they wish?

it could b

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Preparing records before the self-assessment deadline on 31 January

The last day for submitting online tax returns is the 31 January.

If this deadline isn't met then HMRC will impose a £100 fine, with further fines should the situation become protracted.

The Guardian Small Business Network gives advice on the final p

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We're no different to a self-employed trader when it comes to tax... says Vodafone

"Vodafone is no different to any other UK business, whatever its size: if a self-employed trader buys a new computer or a large UK business borrows money to build a new warehouse, exactly the same rules apply."

The Vodaphone statement in full:

As we

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Simpler Income Tax: cash basis

Cash basis is a way of working out your income and expenses for your Self Assessment tax return.

You can use cash basis if you:

• are a small self-employed businesses (sole traders and partnerships)
• have an income of £79,000 or less a year (this is th

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A bit of good news for small businesses?

Not that I'm in anyway a fan of the current regime but at least today's budget could offer some good news for small businesses or sole traders in our industry

Tax threshold to be raised to £10,000 in 2014 - a year earlier than planned

New employment al

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Simpler Financial Reporting for Micro-entities consultation

The European Union has recently defined a new category of company, the “micro-entity”.

See here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/86259/13-626-simpler-financial-reporting-for-micro-entities-consultation.pdf

A

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Council green waste bins and council tax

The local council in my area (Selby District Council) are considering implementing a charge of £82 per year for the green waste collections that are currently paid for as part of householders council tax. The theory behind this being that the council

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HMRC free online "tax return" webinars for Sole Traders

HM Revenue & Customs is offering free online webinars to sole traders who are filing a tax return online for the first time.

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What the Autumn statement means to you

If you own a small business…

From April 2014 the main rate of corporation tax will drop 1 percentage point to 21%, boosting small- and medium-sized enterprises (SMEs). A new Business Bank will be set up to provide a £1bn boost to the small exports bu

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Payroll reporting is changing - operating PAYE in real time

HMRC is introducing a new way of reporting PAYE - called Real Time Information, or RTI.

From April 2013, employers will be legally required to report PAYE in real time. This means that information about all PAYE payments needs to be submitted to HMRC

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Motorists face record diesel prices

"Motorists are facing record diesel prices at the pumps after instability in the Persian Gulf led to an unprecedented rise in wholesale costs.

The average price of diesel on UK forecourts hit 141p a litre over the weekend.

Experts predict that by the

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Annual investment allowance and depreciation

Ive just sold my van and when i came to enter it into my basic tax/accounting software it all gets a bit confusing with regards the depreciation

I bought the van in 2009 for £2495 and with an allowable AIA of 100% the cost was all tax deductable, ther

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Car and fuel benefit calculator

This calculator from the Forum of Private Business allows you to work out your annual company car and fuel benefit liabililty.

Car benefit is a charge to tax on an employee for the benefit of having a car available for private use.

Car fuel benefit i

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SMEs face more HMRC pressures

It is a concern to note that HMRC are to delve deeper into the affairs of SMEs with the potential cause more financial misery.

In today's Independent:

Crackdown on small firms, a blind eye for big business

The tax office faced accusations of double s

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