Company Tax

Awaiting VAT registration details: information when issuing invoices i...

It’s a requirement of HMRC that your company accounts for VAT from the date you registered, even if you’re still waiting on your VAT registration number. Your VAT certificate can usually take about four weeks to come through, sometimes even longer. If you have requested we register you for VAT, t...

How to submit a VAT return

If you’re VAT registered, you’ll want to be aware of your VAT deadlines and payment responsibilities. Hefty penalties and fines are waiting for those who fail to do this, so please make sure that you’re submitting your VAT returns to Crunch by the end of the following month of your VAT return period...

How to record VAT return payments

If you’re VAT registered, you’ll want to be aware of deadlines and payments. If you aren’t, all of the hard work in making your business successful can be undone. For more information about VAT, as well as some additional information about Making Tax Digital, we’d recommend taking a look at ...

How to submit a P11D form to Crunch

The P11D form must be filed with HMRC every year on/by the 6th July, and any tax due must be paid to HMRC by the 19th July each year. However, if you pay electronically, HMRC allows until the 22nd July. Head to the ‘Pay Yourself’ tab and select the ‘P11D returns’ sub-tab. From here, you’ll nee...

How to record a new tax rebate

To record a tax rebate firstly navigate to the ‘Company Tax’ tab and select the drop-down menu, in blue, and select ‘Tax rebate’. The "New Tax Rebate" form that you'll be presented with will require the ‘Tax rebate type’, the ‘Payment date’ and ‘Amount’ of the rebate and the ‘Payment method’. ...

VAT (MOSS) – change of rules for digital service suppliers

Who is affected? The VAT (Moss) rules will affect all businesses that supply digital services to consumers, known as Business to Consumer (B2C). This includes broadcasting, telecoms, and e-services. If you supply digital services to businesses for the purpose of them selling on, known as Busin...

VAT MOSS - What you need to do

If you have to add EU VAT to any of your sales invoices, you’ll need to pay this via the MOSS VAT return. The VAT MOSS scheme accounts for the VAT on all of your cross-border digital service supplies in EU member states where you don’t have established business premises. For a more detailed explanat...

VAT Registration Options

Value Added Tax (VAT) is a difficult subject for most and knowing if, when and what VAT scheme to register for can be a minefield. In this article, we’ll help you decide whether you should register for VAT and what scheme is best for your business. What are my options? Most clients have three ...

From when does the 1% discount I get on Flat Rate apply?

HMRC offers a 1% discount for those registering for the Flat Rate Scheme as an incentive. The 1% discount you get within the first year of Flat rate registration begins from the day you register for VAT, not the day you become Flat rate registered. If you pay VAT to HMRC based on when the busine...

What are the differences between recharged expenses and disbursements?

Businesses will incur expenses when delivering their services to clients, and some may also purchase goods and services on behalf of their clients. These recharged expenses and disbursements are treated differently for tax and VAT purposes and must be invoiced accordingly. What is a disbursement?...

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