Posts

Showing posts from April, 2022
Image
 Changing the registered office of my company to a different country is possible. To better serve its customers, the UK's central registrar of companies (Companies House) operates in three distinct jurisdictions. According to the Companies Act 2006, when a company is involved in legal proceedings, the case will be decided by the Court of the governing jurisdiction. Having a registered office outside of the country where your company was incorporated is not permitted. The fact that both England and Wales are governed by the same law means that you can, for example, relocate your company's registered office from England to Wales (unless you have registered your company in either England or Wales, which requires the approval of the company's members). In all other cases, your registered office can be changed, but it cannot be moved to a different country once your company has been established . Companies and partnerships can conduct business in all three jurisdictions. If this
Image
 How, when, and why your company should register for VAT... Most business owners are aware that the taxable annual turnover threshold for compulsory VAT registration is £85,000 - but there is often confusion about what counts towards this figure, as well as how and when a business should register. In this blog post, we'll go over the requirements for VAT registration in greater detail, as well as answer some of the most common questions small businesses still have about VAT... 1) Is it necessary for me to register for VAT? If your company has a VAT taxable turnover of more than £85,000 in any 12-month period, you must register for VAT. VAT taxable turnover is the sum of all goods and services sold that are not VAT exempt, which includes sales of zero-rated items (such as most food products, books, newspapers and other items that are charged at 0 percent ). Importantly, the threshold is applicable to any rolling 12-month period, not just your accounting period, calendar year, or ta
Image
 Avoid Last-Minute Panic With Self-Assessment Tax Return Deadlines Every year, thousands of UK people file their self-assessment taxes before or on the 31st of January, with nearly one-third doing so in the final hour. This year, HMRC anticipates 12.1 million tax return filings, of which 55% have already been received as of December 29, 2020. Given this, about 5.4 million taxpayers will suffer last-minute panic as there is now less than a month to file tax forms. When Is the Last Day to File Self-Assessment Tax Returns? The deadline for filing self-assessment tax returns for the fiscal year 2019-20 is January 31, 2021, at midnight. However, most individuals overlook the fact that it is also the deadline for making tax payments, and failure to do so might result in a substantial fine from HMRC. Our expert tax accountants provide incredible tax services to help you understand the hidden traps and complexities surrounding last-minute self-assessment tax return submissions, as well as how
Image
  Why is bookkeeping important to your success? Keeping track of sales, revenues, spending, and purchases is critical to your company's overall health and sustainability. Effective bookkeeping generates the information you need to assess your present practises, identify obstacles, and set attainable future goals. Nonetheless, despite their obvious relevance, many business owners despise and avoid accounting responsibilities. Indeed, 40% of questioned businesses say bookkeeping is one of the most difficult aspects of running a firm! Why is bookkeeping important to your success? Are you wondering if it's really worth the effort? Here are four examples of how excellent bookkeeping is critical to small business success. Maintaining a record of reimbursable expenses A dependable method for recording reimbursable expenses ensures that you receive all of the advantages to which you are entitled when submitting your taxes. Expenditures classified as "food,&qu