There are a number of VAT codes within sage and sometimes this can cause confusion about when they should be used so we though a quick guide was in order. These are the recommendations for the standard VAT codes within sage.
We are often asked is, can I reclaim VAT on mileage payments?
The answer is yes, but only on the fuel element….
Mileage Allowance Payments (MAPs) are what you pay your employees (including directors) for using their own vehicle for business journeys. The rates are…
The VAT fraction is used to quickly calculate the VAT element of a price that is inclusive of VAT.
We thought it might be helpful to list of the upcoming deadlines for the month of June 2014.
The Annual Investment Allowance (AIA) allows businesses to invest in new qualifying plant and machinery whilst attracting a maximum 100% tax relief in the year of purchase.
Employment Allowance is designed to reduce the Employers National Insurance for small businesses by up to £2000 and best of all, it’s very easy to claim.