Your Accounting Questions Answered
Do I need a Government Gateway?
A Government Gateway is a way to submit to HMRC and view information held by HMRC.
Should I charge VAT on grant income?
VAT on grant income should be considered on a case by case basis.
Does my dividend income fall in this tax year?
Understanding on which tax year dividends income should be declared
Should I charge VAT when I invoice for expenses?
Should I charge VAT when I invoice to reclaim expenses?
What is the Trading Allowance?
There is no tax to pay on the first £1k of trading sales. If your sales as a Sole Trader are less than £1k …
What should I do if I can’t pay my tax bill?
Our first recommendation is always to submit the return. HMRC will not discuss payment terms until the return is submitted. If returns are not submitted…
Can I reduce Self Assessment Payments on Account?
Payments on Account are based on income declared in the previous tax year. If you believe that you income will be reduced…
How do Self Assessment Payments on Account work?
Self Assessment Payments on Account explained
Should I charge VAT to overseas customers?
If you are selling goods overseas, you can Zero Rate your supplies as long as you keep proof of dispatch. Services…
Is our Christmas Party tax deductible?
A Christmas Party is entertaining. Entertaining staff who are on PAYE is tax deductible for business tax…
What bank accounts should I add to Xero?
The answer to this question will be different for Ltd Companies and unincorporated businesses…
Does Domestic Reverse Charge apply to supply of building materials?
Domestic Reverse Charge on Building Materials
Do I need to submit a Self Assessment?
HMRC expects everyone who has been sent a ‘Notice to File’ to submit a Self Assessment…
What are Xero Smart Lists?
Xero Smart Lists is a feature found in Contacts that allows you to categorise customers. Xero provides…
What is Child Benefit Charge?
Higher Income Child Benefit Charge allows HMRC to take back Child Benefit from families where…
