Introduction: VAT can be a complex area for small business owners, but choosing the right VAT scheme can simplify your accounting, improve cash flow, and even reduce your tax liability. This guide explains the different VAT schemes available in the UK and helps you determine which one suits your business best. Standard VAT Scheme: Who…
Introduction: Starting from April 2026, the UK government is rolling out Making Tax Digital (MTD) for Income Tax. This means if you’re self-employed or have rental income over £50,000 a year, you’ll need to keep digital records and submit your taxes quarterly. Here’s a simple guide to help you understand what this means for you….
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