UK VAT

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The ultimate Guide on Accounting for Amazon FBA Businesses

Leave a Comment / Business, Contractor, e-Commerce Accountants, small business / Michael Burris

Running an Amazon FBA (Fulfillment by Amazon) business can be highly profitable, but managing finances and accounting properly is crucial for long-term success. Many sellers struggle with bookkeeping, VAT compliance, and reconciling Amazon payouts—especially in the UK, where ecommerce accountants in London specialise in helping Amazon FBA sellers stay compliant. In this comprehensive guide, we’ll cover:✅ What is […]

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Tax Relief: How to claim Tax Relief in the UK (2024/25)

Leave a Comment / Business, Contractor, e-Commerce Accountants, Self Employed, Tax Return 2024 / Michael Burris

Learn how to claim pension tax relief in the UK for 2024/25. Discover the difference between Net Pay & Relief at Source, how higher earners can reclaim extra tax relief, and key HMRC rules. How to Claim Pension Tax Relief in the UK (2024/25) – A Complete Guide Saving into a pension is one of

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Tax Regime end of Furnished Holidays, Things to know

Leave a Comment / Business, Contractor, Landlords Accountant, Self Employed, Tax Return 2024 / Michael Burris

In October 2024, HMRC announced the abolition of the furnished holiday lettings tax regime. This significant policy change is set to take effect from April 2025, marking a pivotal shift in how short-term rental properties are taxed within the UK property business landscape. The new regulations aim to align the tax treatment of furnished holiday

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Affordable Accounting from AAT-Registered Accountants

1 Comment / Business, Charity Accounts, Contractor, crypto, e-Commerce Accountants, Landlords Accountant, Self Employed, small business, Tax Return 2024, UK VAT / Michael Burris

When it comes to managing finances, finding an affordable accountant who still delivers competent, reliable service can make a big difference to your bottom line. However, not all “cheap” accountants are created equal. If you’re looking for budget-friendly accounting services, an AAT-registered accountant can provide exceptional value without high costs. AAT (Association of Accounting Technicians)

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How to Recover UK Tax When Leaving the UK Mid-Tax Year

2 Comments / Business, Contractor, Landlords Accountant, small business, Tax Return 2024, UK VAT / Michael Burris

If you’ve been working in the UK as an employee and had tax deducted from your pay, but you’re planning to leave the UK partway through the tax year, you might be eligible to reclaim some of the tax that was taken from your earnings. The UK operates a “pay as you earn” (PAYE) system

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Director Loan Accounts and Section 455 Explained

1 Comment / Business, Charity Accounts, Contractor, e-Commerce Accountants, Landlords Accountant, small business / Michael Burris

Discover how Director Loan Accounts work and what Section 455 tax means for UK business owners. Learn key rules, repayment timelines, and tax implications. Outline What is a Director Loan Account? Types of Director Loan Accounts What is Section 455 Tax? How Section 455 Tax Works? Example of Section 455 Tax Interest on Director Loans

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Should you voluntary register for VAT?

4 Comments / Business, e-Commerce Accountants, Landlords Accountant, Self Employed, Tax Return 2024, UK VAT / Michael Burris

Outline Should you voluntary register for VAT? What is VAT? Voluntary VAT Registration Benefits of Voluntary VAT Registration Disadvantages of Voluntary VAT Registration How to Register for VAT Working out VAT Returns Conclusion FAQs (Frequently Asked Questions) Should you voluntary register for VAT? Put simply, VAT happens to be a major factor in UK business

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What is a UTR?

1 Comment / Business, e-Commerce Accountants, Landlords Accountant, Self Employed, Tax Return 2024 / Michael Burris

Outline What is a UTR When Do You Need a UTR? How to Get a UTR from HMRC What to do If You Lose Your UTR? Things to keep in Mind How FAAS Accountants Can Help? What is a UTR? A Unique Taxpayer Reference (UTR) is a 10-digit number issued by HMRC (Her Majesty’s Revenue

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A Guide to Buying a Car Through Your Business or personal

1 Comment / Business / Michael Burris

Outline Introduction Buying a Car Through a Business: Tax Implications Explained Corporation Tax Deductions on Car Expenses Capital Allowances and Their Link to CO2 Emissions VAT Reclaim: Conditions and Considerations for Business Vehicles Understanding Benefits in Kind (BIK) Tax Implications with Company Cars Fuel Benefits Tax Implications and Employer Responsibilities National Insurance Contributions on Employee

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Ultimate Guide on Salary or Dividends in the UK

1 Comment / Business / Michael Burris

Outline Introduction Understanding Salary and Dividends Tax Efficiency: Salary vs Dividends Other Considerations in Compensation Planning Balancing Stability and Flexibility: Benefits and Drawbacks Making an Informed Decision Case Study: The Mixed Approach Strategy in Action Conclusion Call to Action: Consult FAAS Accountants for Expert Salary and Dividend Advice FAQs (Frequently Asked Questions) Introduction Business owners

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