Value Added Tax (VAT)

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?

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...

Creating Correction and Cancellation Invoices

Creating Correction and Cancellation Invoices

If you send many invoices per day, errors can often occur. This can then lead to issues with the tax office, and claiming back deductions owed to you. There are several options available to fix errors, however. In this article, we will show you how to create a correction and a cancellation invoice.