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VAT

Cash Basis for the Self-Employed

We consider the optional rules which allow small unincorporated businesses to calculate their profits for tax purposes on a cash basis rather than the normal accruals basis.
Accruals basis and …

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VAT

VAT registered businesses act as unpaid tax collectors and are required to account both promptly and accurately for all the tax revenue collected by them.
The VAT system is policed …

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VAT – Seven Key Points for the Smaller Business

This factsheet focuses on VAT matters of relevance to the smaller business. A primary aim is to highlight common risk areas as a better understanding can contribute to a reduction …

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VAT Annual Accounting Scheme

HMRC have introduced a number of VAT schemes over the years designed to reduce the administrative burden on small businesses. One such scheme is the annual accounting scheme.
What is …

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VAT – Cash Accounting

Cash accounting enables a business to account for and pay VAT on the basis of cash received and paid rather than on the basis of invoices issued and received.
Advantages …

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VAT – Bad Debt Relief

It is quite possible within the VAT system for a business to be in the position of having to pay over VAT to HMRC while not having received payment from …

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VAT – Flat Rate Scheme

The flat rate scheme for small businesses was introduced to reduce the administrative burden imposed when operating VAT.
Under the scheme a set percentage is applied to the turnover of …

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News

4 September 2018

Mander Duffill Community Day

Members of the firm volunteered to go to The Rise Children’s Centre in Chippenham. Mander Duffill wanted to make an impact for a local and worthy cause and felt that ... Read more

10 August 2018

eNews – August 2018

In this month’s eNews we report on Making Tax Digital for VAT and the Bank of England interest rate rise. Meanwhile the Scotland Parliament introduces a tax relief for first-time ... Read more

10 July 2018

eNews – July 2018

In this month’s Enews we report on the Supreme Court’s ruling on workers’ rights and the latest guidance from HMRC for employers. We also consider the latest tax gap figures ... Read more