VAT Archives - Page 3 of 9 - J&P Accountants

Making Tax Digital (MTD) for VAT

by Admin | Aug 23, 2022 | Accounting, BLOG, Business, E-Commerce, Making Tax Digital, VAT

MTD (Making Tax Digital), mentioned many times in our previous articles, has been updated again recently. This will affect all businesses paying VAT. We recently received a letter from HMRC and delivered important information to our customers as soon as possible. From...

Import VAT for Small Business

by Admin | Aug 18, 2022 | Accounting, BLOG, Business, crossborder selling, E-Commerce, HMRC, Making Tax Digital, Tax, VAT

We detailed HMRC’s move of customs declarations to the new customs IT platform in a previous article. At that time, the previous customs system (CHIEF) will be replaced. Click here to view the original text In this article, we will focus on providing small and...

Tips of Hiring Your Family Members

by Admin | Aug 16, 2022 | Accounting, BLOG, HMRC, Tax

Recently, our client, Ms Wang, stumbled upon us and asked us what to look out for when hiring family members. Maybe you’ve thought about the same thing, since hiring a family member might be a good idea after all. Family ties may increase trust and...

Beware of ‘careless mistakes’

by Admin | 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

by Admin | 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...