To VAT or not to VAT, that is the question

To VAT or not to VAT, that is the question

For smaller businesses and sole traders, VAT can be complicated issue. Knowing when is right, or required, to register can be difficult. When does a business need to register for VAT? A business must register for VAT when its taxable turnover exceeds the VAT...
Small Business Guide: Sole Trader vs Limited Company

Small Business Guide: Sole Trader vs Limited Company

You have decided to take the big leap of faith and start your own business, the next question is how this should be structured. Should you trade in your personal name or through a limited company? Follow the link below to read our guide on the key accounting and tax...
Improving efficiencies with a cloud based purchase order system

Improving efficiencies with a cloud based purchase order system

Segregation of duties is important for any business, but even more so as your company grows. The delegation of work allows everyone to be more efficient, meaning the right skill levels can undertake the appropriate tasks and the company to continue to grow. Approval...
120k firms miss MTD for VAT deadline

120k firms miss MTD for VAT deadline

More than 120,000 VAT-registered businesses in the UK missed the August deadline to file returns through Making Tax Digital (MTD). HMRC confirmed that around 116,000 businesses with quarterly obligations and 5,000 firms that file monthly returns did not sign up in...
Open Banking and how this impacts Xero

Open Banking and how this impacts Xero

New EU standards, due to take effect from 14 September 2019, will change the way some banks connect to Xero. To comply with the new requirements, many of Xero’s bank feeds will be replaced by new direct feeds using Open Banking. What is Open Banking? Open Banking...