Should small businesses still use the VAT flat rate scheme?

The VAT Flat Rate scheme was introduced in 2002 to simplify VAT reporting for small traders, reducing the time taken to calculate VAT and prepare returns compared to normal VAT accounting. The thresholds for using (£150,000 pa) and exiting the scheme (£230,000 pa)...

How do I give my accountant authority to deal with HMRC?

You’re ready to say goodbye to the burden of doing your own business taxes. We’re here to make your life easier and give you back the hours spent on financial admin. However, before we can do that, you’ll need to officially authorise your accountant or us as your VAT...

Should employees reimburse their employer for private fuel?

Should employees reimburse their employer for private fuel? The table below sets out the HMRC advisory fuel rates that apply from 1 June 2023. These are published quarterly these days due to the volatility in petrol and diesel prices in recent years. Where the...