10th July 2020
If you sell digital services (such as downloadable documents, training courses etc) through your own website/shop to individuals in the EU (non-UK) you must register for […]
If you sell digital services (such as downloadable documents, training courses etc) through your own website/shop to individuals in the EU (non-UK) you must register for VAT when the sales of these services exceeds £8,818. This is because the ‘place of supply’ is deemed to be outside the UK.
You can register for the EU’s VATMOSS (Vat Mini One Stop Shop) to make this process a little bit easier, or you can consider selling through a marketplace that will deal with the VAT on your behalf. (Etsy, FastSpring and others can do this for you – there is a good list here.)
We would recommend planning ahead and deciding how you’re going to set up before you launch your products – you don’t want to get on the wrong side of the HMRC VAT team!
10th July 2020
In the UK, the VAT threshold is currently set at £85,000 (for the 22-23 tax year). This means that if your taxable turnover in a rolling […]
1st July 2019
For eligible employees, the rates for 2020/2021 tax year are 5% for employees, with the employer paying 3%, giving a total minimum contribution of 8%.
1st July 2019
Limited companies can donate money to charities and claim the corporation tax back on the value of the donation. Sponsorship of a charity or community sports […]
1st July 2019
The most tax efficient way of paying yourself through a profitable limited company is with a salary within the NICs threshold (£8,632 for 19/20 tax year), […]
1st July 2019
Director or employee: Directors and employees of a business can claim £26 per month for use of home on a flat rate basis. Working form home […]
1st July 2019
Sole Trader: Sole traders can claim ‘use of home as office’ under HMRC’s simplified expenses system. This equates to £10 per month for 25-50 hours worked […]
1st July 2019
There are different rates depending on whether you are a sole trader or a director or employee of a limited company. As a director, running a […]
1st July 2019
You can claim mileage for any wholly and exclusively business travel in your car (45p per mile), your motorbike (24p per mile) and on your bike […]