VAT-registered businesses must:
keep records of sales and purchases
keep a separate summary of VAT called a VAT account
issue correct VAT invoices
VAT registered businesses with a taxable turnover of more than £85,000 must follow the rules for ‘Making Tax Digital for VAT’.
Make sure you think about any crypto gains when you submit your self assessment tax return. The Capital Gains Tax Allowance was £12,300...
You can close down your limited company by getting it ‘struck off’ the Companies Register, but only if it: • hasn’t traded or sold off...
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