Input tax

Value added tax (VAT)

Value added tax (VAT)

Everyone has to deal with value added tax (VAT) in some form or other. But what is VAT exactly? And who actually has to pay it? Which products does it apply to? How do you calculate VAT? The most important information on value added tax at a glance.

Input tax: sales tax made simple

Input tax: sales tax made simple

Complicated tax regulations can be a minefield, causing confusion for entrepreneurs year after year. But it’s worth being fully aware of tax legislation within the United Kingdom; you could be entitled to a refund for the VAT spent on business operations. But how does this essential part of the tax law work? In this handy guide, we explain the concept of input tax and value added tax (VAT), as...

Tax Tips for the Self Employed

Tax Tips for the Self Employed

How can I save on tax? This is an eternal question for the self-employed. In order to be well-versed in questions of tax, and improve your own financial situation, you need the necessary information: What taxes have you incurred? And what can be deducted from them?

EC Sales List

EC Sales List

If your company sells goods or services to customers in other EU countries, it is essential that you provide HMRC with a recapitulative statement, also known as an EC sales list. This article will look at what an EC sales list is, why it is important to submit one, and finally who should do this, and how.

Types of taxes in the UK

Types of taxes in the UK

Keeping track of taxes in the UK isn’t exactly a piece of cake. There are so many types of taxes that it’s difficult to know which ones apply to you and/or your business. If you don’t file your taxes correctly with the HMRC, it could result in penalties, which could cost you dearly. This article gives you an introduction to the main types of taxes in England, Scotland, Wales, and Northern Ireland...