An Overview Some statistics about personal fitness training in the UK: Allowable expenses for sole traders As a sole trader, you will incur many expenses in the course of running your business. Some of these expenses can be deducted from your taxable profits, which can help to reduce
Making Tax Digital for VAT: a guide to the penalties
Changes to VAT penalties and interest charges if you submit a VAT Return for an accounting period starting on or after 1 January 2023. For VAT accounting periods starting on or after 1 January 2023 there are new penalties for VAT Returns that are submitted late and VAT which is paid late. The way
Selling Residential Property in the UK: Capital Gains Tax
You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) property that’s not your home, for example: The amount of CGT you pay depends on your income and the amount of profit you make. The basic rate of CGT is 18%, the higher rate is 28%, and the
How To Write A Business Plan
Writing an effective business plan helps you in the following ways; Think through your business idea A business plan forces you to think through your business idea in a comprehensive and systematic way. This can help you identify potential problems and challenges before you launch your business. Set
Reverse Charge VAT – Purchases of business-to-business (B2B) services from overseas suppliers
Purchases of business-to-business (B2B) services from overseas suppliers are subject to the reverse charge procedure. This means that the UK recipient of the service is liable to account for VAT on the supply, even if the supplier is not VAT registered in the UK. The reverse charge applies to
Reverse Charge For VAT – Construction Industry In The UK
In the UK, the reverse charge VAT applies to supplies of specific goods and services within the construction industry. It was implemented on 1st March 2021 and applies to businesses registered for VAT in the UK. Here's how reverse charge VAT works in the UK Applicable Transactions The reverse charge
Best Business Books
Advanced business knowledge is not exclusive to MBA programs. You have the ability to learn everything necessary for success in life and the workplace on your own. The Personal MBA presents a curated selection of the finest business books, meticulously chosen after extensive research spanning over a
How to use Dext
A good guide is captured in this short video; You upload invoices and receipts by the following three methods;
Comparison of Liability: Sole Traders vs. Limited Companies
When it comes to the liability associated with business debts, sole traders and limited companies operate under different frameworks. Sole traders bear unlimited liability for any debts incurred by their businesses. On the other hand, shareholders of a limited company are only liable for the
Attention In Marketing
In today's fast-paced and information-rich world, capturing and maintaining consumer attention is becoming increasingly challenging. Marketers need to employ various strategies and tactics to effectively grab attention and engage their target audience. Here are some key considerations regarding