What to do about deferred VAT payments
Back in March 2020 HMRC announced that they would allow business owners to defer VAT payments due between 20 March 2020 and 30 June 2020 to 31 March 2021, as a result of the Coronavirus pandemic. If you have deferred VAT payments then read on. Many businesses took...
How to use Postponed VAT Accounting to manage import VAT from 1 January 2021
So we’re here – the Brexit transition period has ended. As of 1 January 2021 there are changes to how you have to account for import VAT. This means any UK VAT-registered business that imports goods into the UK from anywhere in the world will need to adapt to a...
How to set up a Time to Pay Arrangement
If you’re worried you can’t pay your tax bill then your best bet could be to set up a Time to Pay Arrangement. As part of the response to Coronavirus, the government has extended its Time to Pay (TTP) Arrangement to help support businesses struggling to manage their...
Why is bookkeeping important and do I need to do it myself?
Keeping on top of your bookkeeping can be a time consuming and stressful activity when you’re doing it yourself and running your business too. To break down the job title – ‘Bookkeeping’ is the practise of recording and tracking the financial transactions of a...Follow Starfish Accounting
