by Richard Simpson | Aug 23, 2021 | Free Agent
With the Government’s Making Tax Digital initiative changing the way that businesses pay their tax, demand for sophisticated accounting software is on the increase, with apps like Xero growing in prominence. But is Xero worth it for small businesses? The majority of...
by Richard Simpson | Apr 6, 2021 | Free Agent
As part of its range of measures to help businesses battle the effects of the coronavirus pandemic, in March of last year the Government announced a VAT deferral scheme that would allow VAT payments due between 20 March and 30 June 2020 to be deferred until 31 March...
by Richard Simpson | Mar 25, 2021 | Free Agent
From the 1st March 2021, the CIS VAT Reverse Charge came into play for all VAT-registered construction workers and firms. The implementation of the charge comes following delays due to the ongoing pandemic and Brexit, but it is finally here. The charge will affect all...
by Richard Simpson | Mar 23, 2021 | Free Agent
Relative Accountancy co-founder Richard Simpson says thousands of businesses across the UK could be missing out on significant sums by not reclaiming VAT on mileage. Can I reclaim VAT on mileage? Most people don’t realise that there is an element of VAT on...
by Richard Simpson | Mar 19, 2021 | Free Agent
From 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will be able to claim the super-deduction. What is the super-deduction? The super-deduction is a 130% first-year capital allowance for qualifying plant and...
by Richard Simpson | Aug 18, 2014 | Free Agent, The Bean Counter
The Flat rate VAT scheme was provided to try to help simplify tax for small business owners. Basically it means that whilst you charge VAT to your customers at 20% you actually pay the money over to HM Revenue and customs at a lower rate. (The actual rate is...
