Do I need to file a VAT return and how?

The threshold for VAT registration remains at £85,000 in 2019/20. If your annual turnover is above the threshold then you are required to file VAT returns.

If you are VAT registered then you must file your returns using the Making Tax Digital Service (MTD). You can sign up for this here: https://www.gov.uk/guidance/sign-up-for-making-tax-digital-for-vat

It is also important that you make sure that you file your VAT returns in time, we have a helpful timetable for when you need to file your VAT returns here.

If you are unsure of how to file your VAT return or would prefer to have someone else do it then make sure to get in contact! We will be happy to help!

What expenses can I claim for tax and how do I prove them

With different rules for Limited Companies and sole traders, flat rates for simplified accounting, cash accounting, accruals accounting and restrictions on property businesses depending on the type it’s not surprising that business owners get confused about what counts for an expense and what doesn’t in their particular business.

E-commerce – The accounting and tax challenges and solutions

We can all earn a £1,000 per tax year from trading without worrying about a tax return but some social media businesses are so successful so quickly that their owners who are often inexperienced in the tax implications, are swept along with the momentum and before they know it they have responsibilities but not the knowhow, time or possibly even awareness to deal with the them.

The Fishbourne Accountant is a brand name of The Fishbourne Accountant Ltd, a company registered in England and Wales.

Company no11697791

Registered office address
11 Barker Close Fishbourne West Sussex PO18 8BJ

Insured by Hiscox
Policy No. PL PSC1002349995/00
1 Great St Helens
London
EC3A 6HX
UK
0800 280 0351 9:00am – 5:30 pm Monday to Friday
claims@hiscox.co.uk
Territorial Coverage: worldwide excluding USA and Canada

Monica Jervis is licensed and regulated by AAT, licence number 6697.