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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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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VAT on motor expenses

VAT on motor expenses
If your business is VAT Registered then you can reclaim VAT on motor expenses, for yourself and your employees.  It’s sometimes difficult to work out what you can claim for, especially if vehicles are used for both personal and business use.  Here is a brief run through some of the rules applied by HMRC on claiming VAT on motor expenses.
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Tax credit renewal deadline

Tax credit renewal deadline
The deadline for renewing tax credits is usually 31 July, unless your renewal pack gives you a different deadline.  You cannot renew until you have received your renewal pack.

If you miss the deadline your tax credits payments will stop. You’ll be sent a statement and will have to pay back the tax credits you’ve been given since 6 April.
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New Car Fuel Advisory Rates For Business Use of Company Cars

New Car Fuel Advisory Rates For Business Use of Company Cars
HMRC have new advisory fuel rates that apply to all journeys on or after 1 March 2015. 

The rates have reduced in response to lower fuel prices as follows...
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