Tax Question of the Week – Four Year Cap on VAT Errors

Tax Question of the Week – Four Year Cap on VAT Errors

Q. We had a VAT inspection on 31 January 2017 and the Officer has subsequently issued an assessment for underpaid output tax for an error that was made in a VAT accounting period that ended in October 2012. My understanding is that a four year cap applies to errors...
Why we all need accounting software

Why we all need accounting software

There are many reasons why businesses decide not to install special accounting software.  These include perceived costs, worries about complexity, and the gut feeling that piling receipts into a shoe-box and handing them to an accountant at the end of each year should...
Sole Trader v Limited Company

Sole Trader v Limited Company

One of the most important decisions a business owner has to make is whether to operate as a sole trader/partnership or via a Limited Company.  Company tax rates have fallen in recent years and this has made the Company route more attractive even to those posting...

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