info@makesworth.co.uk
Mon - Fri: 9:30 AM - 6:00 PM 
Talk with us: 02079938850
What is the VAT Flat Rate Scheme? The VAT Flat Rate Scheme is designed to simplify VAT reporting for small businesses. Instead of calculating VAT based on the difference between VAT charged on sales and VAT paid on expenses, businesses using this scheme pay a fixed percentage of their VAT-inclusive turnover to HMRC. While this
Learn More
As the cost of living crisis continues, many individuals may struggle to meet their Self-assessment tax bill by the 31 January 2025 deadline. Ignoring the issue won’t make it go away; it will only worsen due to accumulating interest and penalties. Fortunately, several options are available to help you manage your tax liability. 1. Adjusting
Learn More
The VAT Flat Rate Scheme is designed to ease the burden of VAT compliance for small businesses. The scheme allows companies to focus more on their core operations by simplifying calculations and reducing paperwork. Here’s an overview of how the scheme works, its eligibility criteria, and considerations for determining if it suits your business. What
Learn More
Understanding Agricultural Property Relief (APR) The October 2024 Budget has brought significant attention to Agricultural Property Relief (APR), following widespread protests by farmers. But what exactly is APR, who can benefit from it, and how will it change in the coming years? What Is APR? Agricultural Property Relief (APR) and Business Property Relief (BPR) are
Learn More
National Insurance contributions (NICs) are not just a tax but a gateway to state benefits, especially the state pension. With different types of NICs and rules surrounding their payment, it’s essential to understand how voluntary contributions can help you secure your future pension entitlements. Understanding National Insurance Contributions and the State Pension Your entitlement to
Learn More
Purchasing a commercial property at auction can be an exciting yet complex process, especially when considering the tax implications. Understanding the VAT treatment for commercial properties is essential to avoid unexpected costs. Here’s a comprehensive look at the tax rules and strategies involved in such transactions. What Qualifies as Commercial Property? HMRC classifies commercial property
Learn More