Compliancy is the practice of adhering to rules and regulations and making sure that these are met to a high standard. When it comes to VAT, it is highly important to follow VAT rules and regulations and stay compliant with them, or you could be fined or even face imprisonment. The rules of VAT vary …
Tag Archives: tax
Global VAT Compliance: How can J&P Help Me?
What are the first steps to take when expanding your online business so that you can start selling products in other countries? If you want to trade in Europe, how can you comply with the tax laws of the country that you are selling in? If you are an online business planning to sell products …
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eBay Sellers: The £1,000 Tax-Free Allowance You May Not Know About
As an online trader who sells on online marketplaces, you may be familiar with the differences between eBay and Amazon – eBay is better suited for individuals and sole traders, and Amazon is a platform oriented towards third-party sellers and small businesses. That said, this is not the only difference between these two, as there …
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R&D Tax Relief – Is your company eligible?
What is R&D Tax Relief? R&D Tax Relief is the term used to describe when companies are awarded R&D Tax Credits. “R&D” stands for “Research & Development” in R&D Tax Credits. These particular tax credits are special in the sense that they are designed to reward innovation and fuel growth. For businesses that invest in …
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Making Tax Digital: 1 Million Businesses Still Left To Comply
Although the government initiative Making Tax Digital is now live, it is estimated that around 1 million businesses still need to sign up. Approximately only 70,000 businesses have now registered, which is 4% of all UK businesses. A Freedom of Information Request submitted to HMRC by cashflow forecasting software firm Float has revealed that approximately …
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Tax Year 2019-2020: How To Prepare Your Business
April can be a daunting time for many small-to-medium businesses, with the end of the current tax year and the start of a new one. New tax rates and thresholds have to be taken into account, and it can be difficult for businesses to prepare for all of these changes on top of making sure …
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Spring Statement 2019 – What Are The Key Points, And Will Your Taxes Be Affected?
Yesterday, Chancellor Philip Hammond delivered his Spring Statement – here are the main points given in the Statement regarding the economy and how these changes could potentially affect taxpayers. Key Points Economic growth UK gross domestic product (GDP) is set to grow by 1.2% in 2019 Then 1.4% in 2020, and 1.6% in the following …
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Corporate Tax, Where Do I Start?
We understand that it can be tedious and sometimes challenging for a business to maintain its bookkeeping, pay taxes, and keep up to date with VAT regulations and on top of that run a successful business. So, here we’ve included a step by step guide on how to pay your business’s Corporate Tax. What is …
An Introduction To Making Tax Digital
You have probably heard about how Making Tax Digital (MTD) is going live in April – as HMRC is quickly becoming one of the most digitally advanced tax administrations in the World, more individuals and small businesses are getting ready to submit their VAT tax returns using online software from 1 April 2019. So how …
Income Tax Rates Change This Year – How Will You Be Affected?
You will know that Tax year 2019/2020 begins on 6 April (a month away) – but are you aware that new tax rates will also be coming into play? There will be changes to Car benefits, National Insurance Contributions, but perhaps most importantly the rates of Income Tax are set to change. You may be …
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