Business Records Check: Something for all businesses to keep in mind

HMRC over the next year are sending letters to randomly selected businesses (mostly cash businesses such as taxi firms, hair dressers etc.) asking for a Business Records Check. This is a check on your business records which means they will look into how you manage them and what information you have immediately to hand. This is to make sure that you are able to complete your tax returns correctly and pay the right amount of tax at the right time to avoid interest and penalties. It will also flag up any businesses that are submitting inaccurate tax returns and keeping
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One of my favourite videos – Get to grips with VAT

It is one of those things that some people struggle to understand. A few basics can really help to untangle what VAT is all about. You really need to know the facts to avoid confusion – costly bills – and also being taken for a ride by an accountant who sets out to baffle you. [youtube=http://www.youtube.com/watch?feature=player_detailpage&v=YxFJZ0ORSWc]
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Flat Rate Scheme for VAT: How does it work?

There are those who champion it as a big money saver. Recently, we have had questions relating to this scheme from clients asking us how it works and if it would be beneficial for their business. We have had to reassure clients that if they qualify for this scheme then they have already been automatically placed on it. However, for those without an accountant this is certainly something you should look into and seek advice if you think you are eligible. There are cases where money can certainly be saved by using the flat rate scheme for VAT but you
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Why go Limited

Take a look at the pros and cons of making your business into a Limited company. It is a decision many businesses make, as they expand their business from a sole trader to the next level, but is it right for you? For any further information feel free to give ABC a call – they are always avialable for a chat 01426 613613.
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