Do I need to charge VAT?

Do I need to charge VAT?

Even if you’re new to business, you’ll almost certainly have heard of VAT, or value added tax. It’s that extra charge – usually 20% – that is added when you purchase any taxable goods. As a business, provided the goods or services you sell are taxable, you can...
Marriage Allowance

Marriage Allowance

The basics The marriage allowance came into effect on 6 April 2015. Some couples are only just becoming aware of the marriage allowance. The good news is that claims can be backdated for up to four years. What is Marriage allowance? Marriage allowance allows an...
Tax relief for Christmas parties

Tax relief for Christmas parties

Staff parties A staff party or an annual function qualifies as a tax-free benefit for your employees providing that you meet the following conditions: The total cost must not exceed £150 per head, per year. £150 includes VAT together with any extra costs such as...