The reduced VAT rate of 5% for the hospitality industry is due to end on 30 September 2021. It’s time for businesses to consider how this will impact their trade.
To prepare, we recommend that our clients: review their prices; prepare till systems for the change; save for their VAT bill; constantly monitor their business’ performance.
Business owners have taxes to pay throughout the year. For some, paying on time is not always possible.
To avoid facing interest and penalties for overdue payments, taxpayers should know the deadlines, plan ahead and take action as early as possible.
Imagine being stood in the car show room, wondering whether you should buy an electric car. You are busy considering which model will suit you best and the sales team start telling you about the many benefits of buying through the company.
The 2021 budget delivered a number of new grants, extensions to most of the existing schemes and the promise of tax rises in the future.
Read time: 5 minutes The deadline for self-assessment tax returns is fast approaching. We know that this can be an incredibly stressful time so we are here
My Finance Drive bookkeeping team have seen a recent increase in the number of enquiries from HMRC, especially on VAT Returns. One HMRC agent told us that extra staff had been brought in from other departments to help them complete all of these reviews. But what is a VAT enquiry? What does it mean for your business? And what has prompted this increase?
Two weeks have passed since the Winter Economy Plan was announced by the government. This pack of measures includes grants, tax relief and loan extensions designed to keep the economy going through the winter.
We have been incredibly fortunate this year: we have been able to keep working. While many businesses have slowed down or temporarily stopped trade, we absolutely haven’t.
The 7 steps to change your accountant seamlessly with no disruption to your business.
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