VAT (Value Added Tax) is a consumption tax that is applied to the sale of goods and services. In the UK, businesses that have a taxable turnover above £85,000 (the VAT threshold) must register for VAT with HM Revenue & Customs (HMRC) and then charge VAT on their taxable supplies.

Our advice to businesses on how to navigate FRS 105 and FRS 102: which is best for your business, how to choose and impact to consider for your business

8 solid reasons to consider outsourcing accounting, finance and tax functions in your business - give yourself more time and capacity to focus on the most important things in your business

Our up-to-date guide on how to navigate the complexities of Reverse Charge VAT on EU purchases if you are a small business and don’t want to fall foul of tax law.

‘Payments on account’ are to do with paying your tax bill in the UK via HMRC (typically if you are self-employed). They are advance payments due every January and July and designed to split up your tax bill into more manageable chunks.

Research and Development (R&D) tax relief rules in the UK have changed in 2023. If you’re a business owner or director, we’ve put together a summary of what the R&D tax relief changes are and what you need to know.

Buying a residential property through a limited company in the UK can offer several benefits. Here are some of the key advantages.

IFRS 15 is a bit like a box of jigsaw pieces. Just like putting together a puzzle, IFRS 15 provides the framework that helps businesses piece together their revenue recognition process. It provides a clear set of rules and guidelines for recognising revenue from customer contracts, ensuring consistency and transparency in financial reporting.

Making Tax Digital is a scheme introduced by HMRC that promotes the use of digital accounting systems to maintain accurate business records. In this blog post, we will explore the changes that have already been made, as well as what's next for MTD and how it will impact you.