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Accounting

Postponed VAT Accounting

What is postponed accounting? Postponed accounting means that the importer does not pay import VAT when goods arrive at a port or airport instead the VAT is deferred.

Amending accounting periods to get earlier tax relief

 One obvious effect of the current situation is that businesses of all types (not just companies) are likely to be loss-making or at the very least have significantly reduced profits

Amending accounting periods to get earlier tax relief

 One obvious effect of the current situation is that businesses of all types (not just companies) are likely to be loss-making or at the very least have significantly reduced profits

In Business? Add these to your new year resolutions

The end of the calendar year is a popular accounting date for many businesses, but for those of us with a year-end accounting date of 31 March 2020, reviewing your management accounts for the nine months to the end of December 2019 is a must-do.

PSD2 delayed: What does this mean for you?

For years, the UK and EU have shared the objective of creating a level playing field for new market entrants in the financial services and payments industries while ensuring the proper protection of consumers’ data.

FRS 102 could have significant tax and reporting implications for small businesses

The introduction of FRS 102 (the Financial Reporting Standard which replaces all current GAAP standards) represents a major re-write of UK GAAP and could substantially affect reported profits and tax liabilities. 

8 tips for choosing the right accountant for you

The right accountant can be a valuable asset to your business, saving you both time and money.  It’s important to spend a little time and do some research before you make a final decision.   New business specialist April Foster shares her top tips for choosing the right accountant for you.  

Are you affected by changes to the VAT flat rate scheme (FRS)?

HMRC is to introduce an additional test that will determine the flat rate percentage used by traders. It would seem that HMRC presently considers the benefits obtained by certain businesses to be excessive and not in accord with the intentions of Parliament.

Are you affected by changes to the VAT flat rate scheme (FRS)?

HMRC is to introduce an additional test that will determine the flat rate percentage used by traders. It would seem that HMRC presently considers the benefits obtained by certain businesses to be excessive and not in accord with the intentions of Parliament.