Posts Tagged: cloud accounting

VAT lumps, bumps and hiccups

We’ve covered the VAT basics in the previous post. But unfortunately life isn’t always simple. It has a nasty habit of getting complicated with lumps, bumps and hiccups along the way. Here are some of the more complex VAT issues including a few big VAT wolves that I hope you’ll never encounter. Can I claim… Read more »

Can I get rid of my paper receipts and go digital?

In the modern age with Making Tax Digital looming large on the horizon, is it still necessary to keep paper receipts for  all your business documents? Will a scanned copy be enough to satisfy HMRC? Should you keep the paper version as well? The answer is YES! The good news is that for most types of… Read more »

Annual confirmation statement, annual accounts – what’s the difference?

Can you tell your annual accounts from your annual confirmation statement? They sound similar but in fact they’re quite different. What’s required, what are the deadlines and do they apply to sole traders as well? The annual accounts Let’s start with the easy stuff, the annual accounts.  Both sole traders and limited companies prepare annual accounts and file… Read more »

Can I buy personal items from my business account?

Can I buy personal stuff from my business bank account? It’s a question that we get asked quite a lot. In fact it’s a question I wish more people would ask, as there’s a very simple answer to this one. Yes you can, but please don’t! It can be very tempting to get the business… Read more »

Should I do my own bookkeeping?

Should you do your own bookkeeping? With some many user friendly accounting packages on the market these days, is it worth paying someone else to do it for you? The government’s recent Making Tax Digital changes mean that eventually, almost every business (whether sole trader or limited company) will have to start submitting their data… Read more »