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Flat rate scheme (FRS) for VAT
The VAT flat rate scheme (FRS) is used by many small businesses to help simplify their VAT reporting obligations, although some VAT experts would argue that the scheme is not simple to use.
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Dealing with directors’ loans
For accounting purposes, cash transactions between a director and a personal or family company are recorded through the director’s account.
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Payroll – how to deal with new starters
From a payroll perspective, there are various tasks that an employer has to perform when they take on a new starter.... -
Using a SIPP to save for retirement
A SIPP is a self-invested personal pension which is set up by an insurance company or specialist SIPP provider. It is... -
A guide to using simplified expenses for small businesses
Certain unincorporated small businesses may choose to use the ‘cash basis’ when calculating taxable income, under...