Claiming VAT for Private use

Posted by on August 15, 2016 at 10:00 am

The response to the question whether a sole trader can claim VAT on a car purchase was no, unless the purchaser is a taxi driver, driving instructor or the person re-hired the car to a third person. Court of Appeal, has long prevented sole traders from claiming VAT. But now a certain case has come […]

Key Points of Budget 2015

Posted by on March 20, 2015 at 11:11 am

Below are the key points to take away from the 2015 budget Economic forecast for UK The economic forecast seems to be promising after years of low growth figures. The growth forecast for 2015 is 2.5% which is up from 2.4% predicted in December, This will be followed by the growth rates of 2.3%, 2.3%, […]

Helping Local Businesses in Hammersmith

Posted by on April 20, 2012 at 5:09 pm

Reclaiming VAT on workers’ expenses

Posted by on April 13, 2012 at 10:30 am

HMRC is extremely strict on matters relating to VAT. This applies especially if your company happens to be on the wrong side of VAT investigations. If so HMRC has a greater tendency to spot discrepancies than never before.

Tax Return Tips and Advice

Posted by on December 23, 2011 at 5:31 pm

Deadline for filing your tax return For individuals in the UK, the deadline for filing your paper tax return is 31 October each year.  For online filing of tax returns the deadline is 31 January each year. If you happen to file you paper tax return after 31 October or your online tax return after […]

Treatment for Depreciation of Fixed Assets When Preparing Year End Accounts

Posted by on December 16, 2011 at 5:44 pm

The provision for depreciation is an accounting and tax term used to describe the calculation of the physical decline of fixed assets of businesses. Most fixed assets such as plants, equipment, furniture and vehicles decline in value over time as they are used and as they age. Hence, one needs to take into account the […]

Outsourcing for Small and Start-up Businesses

Posted by on May 11, 2011 at 2:34 pm

The business environment is always subject to continuous changes from business regulations to the way you do your marketing. So how can small and start-up businesses cope in today’s tough economy? Entrepreneurs and small business owners talk about this topic frequently. The discussions most of the time centres around the point that companies need assistance […]

Self Assessment / Tax Return

Posted by on April 1, 2011 at 8:17 pm

Tax return or in other words self assessment is the buzz word during the month of Janaury as everybody is rushing to file their respective documents with HMRC to avoid any unnecessary penalties. For a first time user filing the tax return could be a complicated task. Getting it wrong leads to harsh consequences. The […]

New Business Start ups; Advice on the Structure of a Business

Posted by on March 24, 2011 at 8:54 am

New Business Start ups; Advice on the Structure of a Business The structure is something that every business owner spends a lot of time initially. One needs to get the structure of the business right as it can dent a severe blow for the business in the future if you get it wrong. Matters relating […]

Test your knowledge on VAT

Posted by on March 16, 2011 at 8:46 am

Value Added Tax (VAT) is a tax that is charged on most goods and services that are provided within UK. It is also charged on goods and some services that are imported from countries outside the European Union (EU), and brought into the UK from other EU countries. VAT is charged when a VAT-registered business […]