Late VAT Registration and the Flat Rate Scheme — This Could Cost You More Than You Think
Most business owners in the trades think VAT is straightforward. Register, charge it, pay it. Job done. But what happens when you haven’t registered on time? That’s where things get very uncomfortable, very quickly. So, let’s dive into this. If your business has crossed the VAT threshold but you haven’t registered, or you’ve registered late, […]
17 Reports a Year: The Universal Credit and Making Tax Digital Anomaly Nobody’s Talking About
If you’re self-employed and claiming Universal Credit, you already know the monthly reporting grind. Every single month, you’re submitting your income and expenses to the Department for Work and Pensions, and each report has to land within 14 days of your assessment period ending. That’s 12 reports a year, just to keep your claim ticking […]
Every legal way to take money out of your limited company (without wasting it on tax)
If you run your business through a limited company, you’re likely paying tax twice, once inside the company, and once personally when you take the money out. That stings. You work hard, take risks, deal with endless admin, and still end up losing a big chunk to tax before you even get your hands on […]