While everyone is aware that tax is a charge imposed by HMRC on income earned in the United Kingdom, understanding the tax consequences of different company sectors in the UK, reporting your income tax, and staying on top of deadlines all at the same time may be incredibly difficult. Regardless of your existing tax situation,...
As an entrepreneur, a start-up, or a business, you are faced with different tax-related problems every day. From business filings to VAT flat rates, you might be missing out on some tax opportunities or be at risk of paying fines. To prevent this from happening, this article looks at the five most frequently asked questions...
As an individual or company who might be working or living in another country, the income you earn is subject to tax. Regardless of the activity you are engaged in, it is important to have a tax certificate or certificate of residence to prevent you from paying taxes in two separate locations. A tax residency...
When you start up your company or work with a supplier/partner, you may forget to check if your VAT number is valid. It is against the law for a firm to operate (run a business) in the United Kingdom if its VAT taxable revenue exceeds specific criteria (£85,000 for VAT registration). According to UK law,...
In reality, when you start your business, you may register for a VAT number to comply with any number of tax requirements. However, not all businesses exceed the VAT tax threshold, and there might be situations when you are required to have a VAT number. For example, if you want to claim tax relief on...
If you’re an e-commerce, tech, financial service company or operate in any other sector, demand for your goods or services can suddenly increase. For example, demand for gifts tends to rise during holiday periods such as Mothers and Father’s Day as well as during the Christmas period. Your business may exceed the Value-Added Tax (VAT) threshold...
If you’re a business entity and organization or start-up, it is necessary to register for a VAT number. It is important to have a VAT number for a variety of reasons, such as benefiting from tax incentives and rebates. You must register for VAT if your yearly VATable sales surpass the VAT threshold set by HMRC...
Pan- European Fulfilment by Amazon (Pan- EU FBA) is a fulfilment option set by Amazon for sellers using FBA. Pan-EU allows sellers to be able to store, sell and deliver their inventory from a local fulfilment centre in multiple countries throughout the EU. This is known to be an excellent opportunity for a seller to expand...
Only some countries require non – EU companies to appoint a fiscal representative when registering for VAT and submitting VAT filings. Of course if your company is based within the EU, the rules are slightly different for you. In some countries it is a local requirement that you appoint a fiscal representative. Table of Contents1 What...
We know what VAT is and we now also know how VAT is calculated. If you missed out on these blog notifications, don’t worry at all! Just click into the links and get up to speed before you move on to the deeper understanding of VAT within the EU that I am going to further...
