VAT Flat Rate Scheme Changes 2017 – Limited Cost Traders On 23rd November 2016, as part of the Autumn Statement, HMRC announced that they would be bringing in changes┬áto the VAT flat rate scheme from April 2017. This article is to update you of the changes which will come in to affect from 1 April… Read More

How to register as an Employer Question, “I have just started my own limited company and I am also about to take on my first employee. Can you let me know what I need to do to be able to run a payroll for myself and my employee?” Answer, December 2016 Register as an Employer… Read More

Charging VAT on overseas services Question, “I run a small UK limited company which is VAT registered and we pay for a monthly software subscription to a business based in the Republic of Ireland. The invoice they send me shows VAT being charged at 20%, but with an Irish VAT number. Is this correct and… Read More

Question, I trade as a limited company contractor (I am the only director and shareholder) and I am about to have a six month break between contracts. I don’t plan to take dividends during my break, but am I OK to keep drawing a monthly salary?   Answer, November 2016 During your break, although your… Read More

Is customer entertaining allowable for tax? I run a small limited company and take clients and potential clients out for lunches and dinners on quite a regular basis – a typical month might see 10 – 15 meetings – are these customer entertaining costs tax allowable and what records do I need to keep?  … Read More