Money Matters

What is VAT? UK VAT basics – Business Article

As a business, you are probably charged VAT on most of the goods and services you buy. That means charging your customers VAT, keeping VAT records and paying the VAT you’ve collected to HMRC. Read this article to learn more about VAT and discover what Making Tax Digital is and what it means for your business. What are the different VAT rates? There are three rates of VAT that can be applied, depending on the goods or services provided: Businesses…

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A guide to managing your payroll in-house – Business Article

As your business continues to grow, one of the key areas you need to focus on is payroll. And with that comes a decision – do you look at managing your payroll in-house or consider outsourcing it? Each option has its pros and cons, so it’s worth looking at your business objectives before making a decision on how you will deal with your payroll processing. If you’re looking at the in-house option, there are a number of things you need…

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10 top tips to get ready for Making Tax Digital – Business Article

Is your business ready for HMRC’s revamp to the tax system? If you’re yet to start the process and need support to get ready for Making Tax Digital, this article will help you take the steps to get things moving. When Making Tax Digital begins in April, starting with the VAT programme, it will be the first step taken by HMRC to reduce the £9bn of tax revenue that is lost each year due to incorrect submissions. Who is affected…

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Making Tax Digital checklist: How to ensure you’re ready for MTD – Business Article

As of 1 April 2019, VAT-registered businesses in the UK will need to submit their VAT returns using “functional compatible software”, as part of HMRC’s Making Tax Digital (MTD) plans. With the deadline approaching, we’ve created a Making Tax Digital checklist to help you. And below, you’ll find a checklist infographic, which highlights the considerations and steps you need to take to prepare for MTD. One key thing to remember is that from April 2019, if your VATable turnover is…

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How to Retire to Hawaii – Women in Business Article

9 Easy Steps for Building Your Nest Egg If you’re worried that you won’t be able to retire comfortably—or at all—congratulations: you’ve demonstrated excellent awareness of some frightening trends that have added new layers of complexity to retirement planning. For starters, it’s likely that the financial downturn has taken a bite out of your retirement savings. Other economic changes, meanwhile, make it harder to keep putting money aside. You may have suffered a job loss, a pay cut, or both.…

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