Very Awkward Tax
Very Awkward Tax

Author: Emily Coltman

Publisher: Harriman House Limited

Published: 2013-05-10

Total Pages: 52

ISBN-13: 1908003650

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Of all the UK's myriad taxes, VAT is one that affects us all, but as a small business owner it causes a great deal of uncertainty. When, if at all, should you register for VAT? How do you charge and collect VAT? What do you actually have to pay to HMRC? And what happens if you're making sales, or buying supplies, from outside the UK? In this new e-book, her third, Emily Coltman ACA, one of the UK's foremost small business accountants, answers all these questions and many more, in the plain, simple English we have come to expect from her work.

Uk Vat Registration
Uk Vat Registration

Author: James Cooper-Watson

Publisher: Createspace Independent Publishing Platform

Published: 2017-07-21

Total Pages: 34

ISBN-13: 9781973818779

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Value Added Tax (VAT) is a tax on the sale of goods and services in the UK. Not all goods and services are liable to VAT and not all business need to register for VAT. This book will explain who needs to be VAT Registered and when they should be registered. It will also detail who should consider being VAT registered, even though there is no obligation for them to be. Who will benefit from this book If you are running your own business or planning on doing so in the near future, you should read this book. It will explain your obligations from a VAT point of view so that you understand what you should look out for and when you need to take action. There are also a number of circumstances that may actually make it beneficial to register for VAT before you are legally required to. These scenarios will be explained with the the use of real life examples.

The VAT Handbook
The VAT Handbook

Author: Geoff Hull

Publisher: Penguin Random House South Africa

Published: 2012-04-20

Total Pages: 287

ISBN-13: 1770223738

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Taxpayers often pay over more to the Receiver than required, and nowhere is this more evident than in the payment of Value Added Tax. There are thousands of VAT vendors in South Africa who are obliged to prepare a VAT return every two months. On the face of it, the process is very simple: record the VAT paid in respect of producing your product or service, subtract from this the VAT received in respect of your product or service, and pay the balance over to the Receiver. But in practice it is rather more complex, as certain rules apply to what you can and cannot claim as a legitimate amount, and on imports and exports related to your business. Tax consultants, who service several returns at a time, rush through the work, with the result that large amounts often get overlooked through ignorance or haste and millions of rands go unclaimed, or are paid over to the Receiver unnecessarily. But help is now at hand with The VAT Handbook, everyone’s essential guide on all matters concerning this tax.

VAT and Small Businesses
VAT and Small Businesses

Author: Juan Carlos Venegas

Publisher:

Published: 2012-07

Total Pages: 256

ISBN-13: 9781907444487

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VAT and Small Businesses is a comprehensive guide for owners of small businesses and directors of small companies in the UK, along with their tax advisers. The book deals with the general principles of value added tax (VAT), UK compliance issues (registration and deregistration, taxable supplies, time of supply, record-keeping, and the VAT return), and Her Majesty's Revenue and Customs' powers to enforce VAT compliance. It also explains the nature of input and output tax, the conditions for TOGC (taxable as a going concern) treatment and the VAT rules on international trade: B2B, B2C, and the reverse charge. There are a number of special VAT treatments which a small business needs to consider - such as the simplified accounting schemes and trade-specific rules - which are all covered in the book.

Tax Mastery Made Simple: Unlocking Small Business Tax Secrets for Success
Tax Mastery Made Simple: Unlocking Small Business Tax Secrets for Success

Author: Prof Don Elvis

Publisher: prof: Zeeshan May

Published:

Total Pages: 64

ISBN-13:

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Introducing "Small Business Taxes for Dummies" – Your Essential Guide to Mastering Taxation for Small Business Owners! Navigating the complex world of taxes can be daunting, especially for small business owners like you. But fear not! "Small Business Taxes for Dummies" is here to demystify the tax code and empower you with the knowledge to maximize your deductions, minimize your liabilities, and keep more of your hard-earned money where it belongs – in your pocket! In this comprehensive and easy-to-follow book, tax experts break down the intricacies of small business taxation into simple, bite-sized pieces. Whether you're a solopreneur, freelancer, or running a small company, this guide is your indispensable companion to understanding and optimizing your tax obligations. Discover practical strategies to streamline your record-keeping, organize your finances, and stay compliant with the latest tax laws. From deciphering deductible expenses to harnessing the power of tax credits and incentives, this book covers it all, leaving no stone unturned. But this isn't just another dry and technical tax manual. "Small Business Taxes for Dummies" is infused with a touch of humor and written in a conversational style, making it accessible to anyone, regardless of their financial background. You'll find real-life examples, handy tips, and insider secrets that will transform your tax season from a headache into a breeze. Imagine having the confidence to tackle your taxes with ease, knowing that you're leveraging every opportunity to save money and optimize your business's financial health. Picture the peace of mind that comes from staying on the right side of the IRS while making informed decisions that benefit your bottom line. Don't let tax season overwhelm you or hinder the growth of your business. Arm yourself with the knowledge and tools you need to take control of your small business taxes. Grab your copy of "Small Business Taxes for Dummies" today and embark on a journey towards financial success. No more sleepless nights or endless Google searches trying to make sense of tax jargon. With "Small Business Taxes for Dummies" as your trusted companion, you'll conquer the world of taxes like a pro. Prepare to uncover the secrets to optimizing your tax strategy and keeping more of your hard-earned profits. Take charge of your small business's financial future. Get your hands on "Small Business Taxes for Dummies" now and set yourself up for tax-saving success!

VAT/GST Thresholds and Small Businesses : where to Draw the Line?.
VAT/GST Thresholds and Small Businesses : where to Draw the Line?.

Author: Y. Zu

Publisher:

Published: 2018

Total Pages:

ISBN-13:

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Inherent features of any business tax are the imposition of relatively higher compliance costs on small businesses and higher administrative costs faced by tax authorities in respect of these firms, allied with low net tax revenue collected from the sector. A common response in jurisdictions levying a value-added tax (VAT) is the adoption of a registration threshold to remove from the formal VAT system small businesses for which the compliance burden would be most onerous, with the threshold being set at a level that does not seriously undermine VAT revenue. However, the distinction caused by the threshold between enterprises excluded from the VAT and others fully incorporated into the tax system gives rise to competitive distortions; these distortions are ameliorated for some businesses through a voluntary registration option, while other businesses are induced to adopt behaviour that will allow them to remain below the registration threshold. Taking the form of commercial restraint, enterprise splitting, or underreporting of sales, this behaviour leads to further distortions and threatens revenue collection. This article reviews the key considerations and challenges in setting a VAT registration threshold and the consequences of adopting that boundary. Two issues related to the choice of threshold concern the use of "transitioning" subsidy regimes adopted in some jurisdictions to reduce the tax discontinuity as enterprises move into the full VAT system and the special concessional regimes used in some countries to reduce the compliance burden that small businesses face once they are subject to VAT. Another approach found in some jurisdictions is the use of a tax regime border instead of a registration threshold, with a full VAT being levied on enterprises above the border and a substitute turnover (revenue) tax being imposed on small businesses below the border. The turnover tax alternative has been variously explained as a system intended to achieve simplification or revenue-raising objectives. The benefits of the transitioning and simplification schemes may be exaggerated, while their unintended costs and distortions may be insufficiently recognized. A review of these systems can provide guidance to policy makers contemplating reform or the adoption of new regimes.