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If you can demonstrate a need for a van for your business, then this could be a really tax efficient way to acquire a van and use it for your biking enjoyment too but there are a few things to watch out for to ensure you are on the right side of the tax man: […]
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16 Nov '17If you’re having a Christmas party (or any other annual event) there is an exemption of up to £150/pp you can spend and it’s all tax free! The conditions The total cost must not exceed £150 per head, per year. £150 includes VAT together with any extra costs such as transport and accommodation. The £150 […]
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Our research shows that 95% of sole traders don’t keep records of journeys, which means they have to claim for petrol rather than mileage. When you claim for petrol, you have to split the bill between business and personal use. Thus, you could lose out if you do a great deal of driving for business […]
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Changing Accountants Switching your accountant, much the same as switching your gas and electricity supplier, can feel like a stressful task that you want to avoid even when you’re not fully satisfied with the services you’re getting. Sometimes people just want to avoid those awkward “goodbyes” and think that they have to endure this when […]
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The compulsory registration requirements for VAT is either when: a) your taxable supplies exceed £83,000 (£85,000 in 17/18 as shared in Hammonds Spring budget last week); or b) there are reasonable grounds to believe that your taxable supplies in the next 30 days WILL exceed £83,000 (for example of you’ve just secured a large contract). […]
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