Business Tax Services

Business Owners contacting us for the first time often ask us:

• Should I be registered for VAT?
• Are there any VAT schemes to help small businesses?
• What expenses can I claim against my business?
• How does the annual investment allowance work?
• How much should I be paying my staff?
• Am I paying too much tax?
• When do I pay my tax?
• What if I receive a compliance visit from HMRC?

Being a client of ours comes with the benefit of knowing these questions will be answered, in plain English.  Our clients know that having this and more taken care of is only a phone call or email away - simply contact us for a chat!

 
Useful Tax Thresholds
 
VAT Registration Threshold from 1 April 2018

• 12 month turnover threshold - £85,000
• The Standard rate of VAT is 20%
• Reduced Rate of VAT is 5%

National Living Wage - National Minimum Wage

• £7.83 per hour for workers aged 25 years and older 
• £7.38 per hour for workers aged 21-24 inclusive
• £5.90 per hour for workers aged 18-20 inclusive
•  £4.20 per hour for workers aged under 18
• £3.70 per hour for apprentice rates

The file below contains all the relevant business tax thresholds. Please feel free to download it, print it and use as you wish.

nigel_gorski_consulting_guide_march_2024.pdf
File Size:	2278 kb
File Type:	pdf

Download File

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