Blog

15 Oct 2021

My UK VAT responsibilities if I am selling online on Amazon

If you are selling online you might be selling directly to a customer who is not VAT registered, to a business customer who is VAT registered, and you might also be selling through an online marketplace such as Amazon and Ebay.

12 Oct 2021

Things I should know about VAT while selling on Amazon.

Many e-commerce businesses who are selling on Amazon, find it hard to understand VAT rules on their online sales. Sometimes they are even reluctant to spread their business in Europe because they think that they will have to deal with complicated VAT rules. If you are using the Amazon platform to sell your products then it's best to be confident with all the rules so you can sell to the Amazon clientele worldwide.

08 Oct 2021

I want to set up a trust, will it reduce my Inheritance tax bill?

The answer is Yes it will. This is because when you set up a trust and transfer your assets which could be your property, land, money, or shares will not be part of your estate on which Inheritance tax is applied.

01 Oct 2021

Property Income - How should I declare it to HMRC?

If you own property which you are renting and you are earning a significant amount of income in the form of rent then you should be reporting it to the HMRC in the self assessment tax return.

28 Sep 2021

My National Insurance Contributions and why do I pay them?

The thresholds and the rates to pay National Insurance are different in each case abs that depends on your employment status.

20 Sep 2021

Home baker business. Expenses you can claim if you are self Employed.

If you are thinking of starting a business the first thing that should come to your mind is profitability even if this is your side business. This means that you should keep in mind what costs will incur to run your business.

09 Sep 2021

Everything you need to know about being taxed through an umbrella company

If you are working through an umbrella company you should make sure that you have the right employment contract. This means that you will be treated as an employee and you will be entitled to the employment rights such as holiday pay, statutory sick pay, maternity pay etc.

31 Aug 2021

Do I have everything I need to file my accounts in September 2021?

If you are a private limited Company and your company’s financial year end is December 2021, you need to file your annual accounts latest by the end of September.

20 Aug 2021

6 Things you should know about Reporting the Capital Gains Tax when selling property.

When you are selling an asset, you should keep in mind that you will have to pay a chunk of tax to the HMRC.

10 Aug 2021

How Can I Prepare My Business for IOSS?

The new VAT policies make sure that the international trade between EU and non-EU states is made easy. As an IOSS registered business you will be providing better service to your customers as they won’t be facing any delays in the deliveries and won’t have to deal with any surprise costs after they have bought the product.

13 Jul 2021

I sell goods on Ebay . Do I need to register for IOSS (import one stop shop)?

If you are selling your goods online this means that you are attracting customers from EU and Northern Ireland. If your business is registered in Great Britain and you have your consignments going to the customers in the EU and the value of the goods do not exceed £135 have been given the option to opt for IOSS.

08 Jul 2021

I am a Locum Doctor. Can I work through a limited Company?

If you are a locum doctor and you are looking for some ways to save on the taxes that you pay to HMRC, you will have to look for your employment status.

Please see the Taxaccolega Chartered Accountants blog archive.