HMRC has declared that:
From 1 April 2010 most VAT-registered businesses have to submit online VAT Returns and pay electronically. And by April 2012 this will apply to all VAT- registered businesses.
Whether you submit your return online or by paper, HMRC must receive it and any VAT you owe must have cleared to HMRC’s bank account by the due date. For paper returns this is usually one month after the end of the VAT period but if you submit online and pay by one of the approved electronic methods, then you may get up to seven extra days for your return and payment to reach HMRC.
A&Z can guide you through this process so that you are compliant with HMRC’s requirements and avoid any associated penalties. Call Carole now on 07762 880052
The maintenance of an accurate bookkeeping system is important for all businesses.
HMRC and Business Link confirm that no matter what the size or type of business, the record keeping should include:
- all receipts and expenditure
- all goods purchased or sold
There are no rules about the format you must use to record your figures – those kept on paper are just as valid as those stored on computer.
A&Z can provide guidance and support in setting up and maintaining an accurate bookkeeping system which works for your business.
If you would like further details, please contact Carole on 01623 402086.
“You will save money on your accountancy bill if you use Sage”. This is true if you are using sage to record all of your transactions and you complete the monthly processes.
At A&Z, we can train you in the effective use of sage and provide ad hoc guidance when needed.
For your convenience, we come to you and tailor the training to suit the needs of your business by using your data. The results of the data input is then used to produce meaningful reports relevant to your business.
Contact Carole on 01623 402086, for more information.
Management accounts are a useful tool used by you, the business owner to make timely decisions with regards to your business requirements.
A&Z can assist you make the correct decision by producing management accounts covering periods dictated by you to suit your needs.
Contact Carole on 01623 402086 for further information.
HMRC require tax returns to be submitted by certain deadlines to avoid penalties. From the 6 April 2011, HMRC have changed the way penalties are calculated meaning that even if you are one day late submitting your tax return, you will be fined £100 whether you have paid your taxes on time or not. If you are three months late, the penalties increase by £10 per day up to a 90 day maximum of £900.
A&Z will ensure that you are complying with the latest requirements of HMRC and remove the pressure of doing it all yourself.
Contact Carole today on 01623 402086 for details.