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Beware of ‘careless mistakes’

Beware of ‘careless mistakes’

by | Jul 28, 2022 | Accounting, BLOG, E-Commerce, HMRC, Tax, VAT

Penalties for careless mistakes in tax returns? Recently, some departments have calculated the 2021/22 year HMRC fines for taxpayers in tax returns. The 80% penalty for “careless mistakes” by taxpayers has nearly tripled by 40,000 from the previous year....
Being or Set up as a Sole Trader

Being or Set up as a Sole Trader

by | Jul 20, 2022 | BLOG, HMRC, Tax, VAT

Nowadays, more and more people want to start their own businesses or become their own bosses. Although the business model is not so complicated, they also face a series of problems such as taxation. Three quarters of businesses in the UK are currently self-employed...
Five Steps to Check the Electronic Invoice

Five Steps to Check the Electronic Invoice

by | Jul 1, 2022 | BLOG, E-Commerce, VAT

HMRC has recently updated a document setting out what businesses need to be aware of when sending, receiving and storing VAT invoices in electronic format. If you have previously or want to issue your Value Added Tax (VAT) sales invoice electronically in the future,...
“Should the self-employed be registered for VAT?”

“Should the self-employed be registered for VAT?”

by | Apr 21, 2022 | BLOG, HMRC, VAT

As a self-employed person, managing your tax liability can be especially tricky. You don’t have the support of an in-house finance team. It’s hard to navigate all these complex regulations on your own. Value added tax (VAT) is a particularly complex issue....