Tax Processes for Business
Check out our latest collection of YouTube videos on Tax Processes for Business!
Category: accounting
Taxable Supplies & Taxable Persons
TAXABLE SUPPLIES HMRC indicate that the VAT Act 1994 section 4(2) provides that a taxable supply is a supply of goods or services made in the United Kingdom other than an exempt supply. This means that taxable supplies are all goods or services sold which are not within the exempt items or items outside the … Read More
Taxable Person!
An individual not in business but sold one of their personal art painting for £89,000, is a taxable person? TRUE / FALSE? FALSE So, who is a taxable person? A person or entity that carries out any economic activity and deals in taxable supplies, will be called a ‘taxable person’; whether it has registered for … Read More
Bookkeeping – What’s it all about?
Bookkeeping is fundamental to all businesses. Bookkeeping involves managing all business financial transactions in a company. Whether it is a question of purchase or sale, or change of loans, all this information has to be recorded in the books. This position therefore requires strong accuracy and good attention to detail. Good Bookkeeping is fundamental for most … Read More