Avoid making mistakes for VAT

Avoid making mistakes for VAT
VAT is probably the most well known tax; everybody has been paying it from the first time you spent your pocket money at the tuck shop, to your latest purchase. VAT on consumer sales is easily comprehendible with a flat-rate applied to (most) goods. However, on the other side, in the murky world of business, VAT becomes a much more complicated issue, with 3 different rates of VAT to consider and different rules for imports, exports and charities. Here at Marshall Smalley we aim to straightforwardly explain VAT so you can stay on the right side of the tax man.
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The financial year: what happens when

The financial year: what happens when
Everybody knows the Roman calendar year; from January to December, you probably learnt it back in primary school.  However at no point in school are you taught the financial year, which can look chaotic and confusing.

The tax year is vitally important to running a business and staying on the right side of the HMRC.  That’s why we have decided to create an easy to understand timeline of the financial year.
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The history of accounting

The history of accounting
Here at Marshall Smalley we have an illustrious and longstanding history, but the history of accountancy stretches back even further. Accountancy can be traced all the way back to Babylonia where it was used to keep primitive records of crops harvested. But how has accountancy evolved into the sophisticated, all-encompassing phenomena that is essential to trillions of pounds of trade that we see today.
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Selling products online

Selling products online
In the modern era, it is hugely profitable to be selling products online. It opens your company out to vast untapped markets, and means that even when your shop’s closed, your products are still selling. Shoppers spent £91 billion online in the UK in 2013 and this is continuing to rise as more and more people are connected online.  So how can your business join the online revolution and start selling products online.
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The differences between a limited company and a partnership

The differences between a limited company and a partnership
Although many people believe limited companies and partnerships are the same thing, there are some fundamental differences between them.  It is important to know these dissimilarities so you can make an informed decision on what business model is best for you.
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