Category Archives: Tax

Voluntary VAT Registration

Voluntary VAT Registration

VAT registration, doing it sooner and being an unpaid tax collector seems crazy. It looks complicated, not to mention time-consuming.  However, with the right help and guidance, VAT registration, operating it and invoicing are straight-forward and easy to navigate. Your business must register for VAT if Your taxable supplies, including zero-rates sales, have gone over the registration limit in the

Read More

Tax-free benefits for You and Your Employees

Tax-free benefits for You and Your Employees

Tax-free benefits for you and your employees Certainly paying tax-free benefits to yourself and/or your employees is a marvellous situation. Most importantly there is no tax or NIC to pay.  In addition, your company can deduct the costs from business profits. Above all the benefit must be paid for.  In other words, don’t provide the funds with which to buy

Read More

Company Car’s & Tax

Company Car’s & Tax

Company car’s: Are low emissions cars tax efficient? First of all significant changes are being made from 2020-21 to the company car tax benefits-in-kind bands affecting ultra-low emission vehicles (ULEVs). The taxable benefit arising on a car is calculated using the car’s full manufacturer’s published UK list price. It includes the full value of any accessories. This figure is then

Read More

How to Pay Yourself: Salary, Dividends & Benefits

How to Pay Yourself: Salary, Dividends & Benefits

How to pay yourself: Company owners and directors often ask us “do I pay myself salary or dividends, and how much should that be?”. Every situation is different, therefore the answer to the question depends. This article will look at the salary versus dividends decision. We will throw some numbers in to show the financial difference. Furthermore we will be

Read More

VAT And Pricing

VAT And Pricing

VAT- What is it? VAT  is a tax on sales, not profit. It is a multi-stage tax, charged at each stage of the business cycle on the “value added” at that stage. Most importantly the basic principle is that the VAT is actually paid by the non-VAT registered customer. VAT is charged on the taxable supply of goods and services

Read More

Filing Your Tax Return- A Guide

Filing Your Tax Return- A Guide

Filing your tax return: Being an early bird can really help reduce your stress levels, giving you more time to just get on with your business and your life. Here at Pro Active we have put together a short guide on tax returns if you want to complete your own. If after watching our video you feel more comfortable with

Read More

Profit & Your Break-Even Point

Profit & Your Break-Even Point

Profits & your break-even point are so important to businesses that we’ve dedicated this blog and clip to this subject.   You might be wondering why knowing about this is important. Stay with me as we look at break-even. The bottom line is knowing your gives you better business insights and helps you make more profit in your business. Let’s

Read More

Property Is A Business

Property Is A Business

The Business Of Property Property is a business.  Therefore run it as one, because it is not just an investment.   There is money to be made in property.  Therefore before money starts rolling in there’s lots to think about, including: Returns Decide whether you’re going for capital growth, income or a mix Ownership of properties Individual, partnership, LLP, single company

Read More

Business Budgeting For Success

Business Budgeting For Success

Understanding Business Budgeting Business budget for success First of all a successful business needs the solid foundations of sound financial management built into its overall strategy.  For that reason finances should underpin every aspect of its work.  Activities need to be planned and costed, so resources are properly considered. “Failing to plan is planning to fail,” Benjamin Franklin “Those who fail to

Read More

Cost Type: Direct & Indirect

Cost Type: Direct & Indirect

Accountants classify cost as either direct or indirect. Differences between direct and indirect costs It is important to know the difference as this helps when it comes to: Pricing of goods and services Business Planning Controlling costs Understanding profitability of customers, products and services Improving efficiency Direct cost This refers to cost related to the production of products.  Below are

Read More