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04 Sep VAT Recharge Scheme: FAQs

Following our article regarding the VAT Recharge Scheme put in action January 1, 2015, where we provided you with the basics of the new legislation, here are the most frequently asked questions answered by our accounting specialists. Q: I have a small business that sells both...

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24 Aug Starting your own Business Tax and Vat

If you are thinking about starting a business, you should begin by writing a business plan. This outlines the ideas you have for your product or service. You can get help for your business ideas from: The National Enterprise Network (England) Business Gateway (Scotland) NI Business Info (Northern Ireland) Business...

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18 Aug Do I Need to Register for CIS?

If you pay sub-contractors to do building work for you and you are for example a: • Builder • Labour Agency • Gang Master • Property Developer You must register as a contractor with the Construction Industry Scheme (CIS). You should also register even if you don’t do construction work, but you spend more than...

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15 Aug The Importance of Payroll

Most small business owners find themselves performing multiple roles for their company. With their plate always full, completing payroll can be a real challenge considering the fact that they need to be well versed in accounting, remember all the deadlines, and be willing to research...

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15 Aug VAT Exempt goods

VAT Exempt Goods There are some goods and services that are exempt from VAT and this means that if you sell these goods, you can’t claim the VAT on the purchases or any expenses. Below is an example of goods and services that are exempt from...

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