Tips & Advice

HMRC have changed their instructions on whether bank interest should be included in VAT flat rate scheme turnover. Here’s how FreeAgent deals with the change.

If your business was affected by the riots in English cities last week, here’s a quick summary of the measures available to help you get through this difficult time.

When income and expenses will be listed on your VAT return.

It’s not always easy to know when income and expenses should go into your profit and loss account.

Some issues that often result in a bit of head scratching are:

1. Is income included
a. when the work is done,
b. when the invoice is raised, or
c.

If you pay income tax, you may have a payment on account to make at the end of the month. Here’s some more information on how much you might have to pay.

If you employ and pay staff, or give them anything other than their salary and/or dividends, you must complete a form P11D for each employee (including limited company directors) showing what they’ve received, by 6th July after the end of the tax year.

Does putting something on P11D mean you ha

When you can claim tax relief on the cost of your food and drink when you’re travelling on business.

If you’re an HSBC personal account holder (and I am) you’ve maybe been frustrated at the limited options when it comes to downloading older statement data. Basically you can’t. Which can be a problem if you want to upload those old transactions into FreeAgent.

A quick summary of the invoice and cash accounting schemes for UK VAT.

How FreeAgent can help company directors fill in their own personal self-assessment tax returns.