Welcome to the AccoTax Help Centre
Search for answers to your questions by entering keywords below, or scroll down to look through our knowledge base.
Limited Company
A new company is asking for a payment of £320. should I pay this fee?
I received a letter yesterday addressed to my new company, asking for a payment of £320 to register the company on the ‘Intercom VAT Registry’.
Benefit in Kind on Purchasing Car Via Company
Q. I am a shareholder in a family-run trading company. Last year I purchased a hybrid car via the company. The relevant BIK percentage is
Change Company’s Year End
Change your company’s year-end You can change your company’s year-end (also known as its ‘accounting reference date’) to make your company’s financial year run for
Company Accounts & Tax Return were Returned. What Exactly Happened?
I’ve always prepared the accounts for my own company and submitted them to Companies House and the Tax Office with no problems. However, this year
Does it Matter if the Employee Bought the Pay-as-You-Go Phone?
The company provides the sales reps with pay-as-you-go mobile phones, who purchase top-ups when they need them, claiming the cost back on expenses. Does the
Is it Right to Tax Driving Instructor for Taxable Car Benefit?
I’m a driving instructor and operate through a limited company. The Taxman wants to tax me for using my instruction car and fuel as a
Is There A Problem With The Minimum Wage Legislation?
I Understand That An Effective Tax Strategy For An Owner Managed Company Is For The Director To Take A Low Salary With Minimal National Insurance
My company can pay up to 1/3 of my gas bills tax-free, is that true?
My energy bills have soared since I started using a room in my home as the base for my company’s business, as I have to
Should I Buy My Car Through My Limited Company?
My company is doing well and I’d like a new car, possibly a BMW series 5. Should the company lease or buy this car, or
Should I Lend my Mate the Cash or Buy Shares in New Company?
My mate is starting a new business and wants me to invest. Should I lend him the cash or buy shares in his new company?
Should I wait until the new tax year or start the process now?
I want to close down my consultancy company and pay the funds it holds to me as the only shareholder. Should I wait until the
Starting a new company. Will it qualify for the NIC exemption?
I’m thinking of starting a new company. Will it qualify for the NIC exemption? It depends on where your business is based. Businesses in the
Training cost allowable expense
Question: Is tax relief available for training costs when setting up a new trade in a limited company? Answer: Corporation Tax Relief
VAT on buying goods from EU
VAT on buying goods from EU Countries Xero Video: https://tv.xero.com/detail/videos/featured/video/5130974203001 Purchases from Inside EU: will be recorded as acquisition Imports from outside EU: Claim import
VAT on Disbursements
Question: I am an IT consultant, operating through a VAT registered UK company. Supplying consultancy services to another UK IT business. I have incurred
VAT on Purchase of Services from EU & Outside EU
VAT on Purchase of Services from EU & Outside EU Xero Video: https://tv.xero.com/detail/videos/featured/video/5130974203001 When recording Reverse charge, it will only be in the
VAT on sales of goods to EU Countries.
Please see below the Summary When you are SELLING GOODS: Sales inside EU: Treat as mentioned above. Sales outside EU: They will be treated
VAT on Sales of Services in EU & outside EU
VAT on Sales of Services to EU & Non-EU businesses: Sales inside EU: Treat as mentioned above. Sales outside EU: They will be treated as
What Expenses Can i Claim for Business?
There are several expenses that you can Claim for Business. Please see below the list of possible allowable expenses that you may be able to
What is a Limited Liability Partnership?
What is a Limited Liability Partnerships? The partners in an LLP aren’t personally liable for debts the business can’t pay. Their liability is limited