by Georgi Rollings | 16th August 2021 | Bookkeeping, Making Tax Digital, VAT, Xero
The requirements of Making Tax Digital (MTD) changed from 1 April 2021. It isn’t enough to just file your VAT return using software. Now you also have to worry about where your data comes from, and how it gets into your accounting records. So just what are...
by Jennifer Grocott | 28th June 2021 | Limited company, Making Tax Digital, Sole trader, Start ups, Tips and Tricks, VAT
VAT can be a source of curiosity and confusion for business owners. Do you have to register for it or do you choose to? When is it necessary? And why? Is it a good thing? Though you can choose to voluntarily register for VAT at any time, there is a VAT registration...
by Georgi Rollings | 16th June 2021 | Making Tax Digital, Sole trader, Tips and Tricks, VAT
At the moment Making Tax Digital is only mandatory for VAT-registered businesses which are over the VAT registration threshold. And even then it is only a requirement for filing VAT returns. But is Making Tax Digital just for VAT? The short answer is no. MTD for VAT...
by Jo Wormald | 8th May 2021 | Brexit, Tips and Tricks
Fashion can be a tough business to be in at the best of times. Long seasonal cycles means time is largely spent planning ahead. Orders have to be in ahead of the season, and the cost of samples, manufacturing and marketing have to be covered early. Alongside the...
by Jennifer Grocott | 10th April 2021 | Bookkeeping, Limited company, Tips and Tricks, Xero
Setting up multiple payment methods in Xero is a major quick win. Offering different payment methods makes it easier for people to pay you, and it’s actually really easy to do using Xero online payment services. Getting paid fast can really help put a business...