Company Tax

Claiming back VAT

Can I claim VAT back on purchases made before my company formation? Yes, you would be entitled to claim back the VAT on any business assets you purchased that you will continue to use in the business within the last four years (i.e prior to becoming VAT registered). Four years for fixed assets ...

Tax incentive payments

What is a tax incentive payment? HMRC prefers companies to file their tax returns online, rather than sending in paper forms. By filing online, your company may be entitled to receive an incentive which could either be a reduction on your tax bill, or, if you don't owe anything, you may receive...

How to record VAT return payments

VAT payments should only be recorded in the "New Tax Payment" screen if you are recording the payment you made for a VAT return that was not processed by Crunch or if your accountant has given you specific instruction to do so. All of the VAT returns that were processed by Crunch will appear in the...

How to submit a VAT return

When you are required to submit a VAT return we will send you an email reminder. In order to submit your return, navigate to the "Tax" tab in the Crunch app and click "VAT returns": In this screen you will see a list of your VAT returns. When you are due to submit a return you will notice that the...

How to record a new tax rebate

To record a tax rebate firstly navigate to the "Tax" tab and on the "Dashboard" click the Add new: Tax rebate" button. The "New Tax Rebate" form that you'll be presented with will require the type of rebate, the date and amount of the rebate and the payment method. Filling in these fields will creat...

How to add VAT details / How to add a director or add a shareholder

Please contact your account manager so the necessary changes can be made.

Corporation Tax

What is corporation tax? Corporation tax is a tax on taxable profits of limited companies. Any limited company incorporated in the UK is subject to corporation tax requirements, as well as foreign-based companies with a permanent place of business in the UK. For more information, please refer to ...

Personal Income Tax

Who has to pay personal tax? Those people with no other income and with a maximum salary for the tax of below the National Insurance threshold and with a total taxable income (including dividends) below the higher rate tax threshold will have no additional personal tax to pay. Click here for the...

VAT Rates

Current VAT Rates Standard 20% Reduced 5% Zero 0% Flat Rate VAT Sectors PDF (valid until further notice)

Paying VAT

How frequently do I pay VAT? VAT is paid quarterly (every three months) from the date of your registration to a VAT scheme. How does Crunch calculate VAT? The Crunch app calculates VAT based on the Cash Accounting Scheme, which means it is calculated based on the payments received from cus...

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