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What are Vat Rates in the UK?
Navigating the world of taxation can be like steering a ship through a storm, especially for small and medium-sized e-commerce ventures in the UK. The lighthouse in this storm? A solid understanding of VAT rates. This article will provide you with a clear...
Research and Development Tax Credits for E-Commerce Businesses
R&D Tax Credits | An Introduction In today's rapidly evolving e-commerce landscape, businesses must continuously innovate to stay ahead of the competition. Research and development (R&D) tax credits provide a valuable incentive for e-commerce companies to...
How To Start An E-Commerce Business
You will find lots of websites offering advice on starting up your own e-commerce business and how easy it is. And it is…….create a website using a platform like Shopify, select payment methods from the options available and use dropshipping to source the products...
5 Amazon Seller VAT Stories – From Disaster to Success
Having been working with e-commerce businesses for a number of years now we have come across many stories of accounting and tax disasters (some of which had a happy outcome, but you will probably guess that they are in the minority). Accounting in an e-commerce...
Changes to R&D Tax Credits: Tax Relief is Changing
R&D Tax Relief is Changing From 1 April 2023, new rules for R&D Tax Relief claims will require businesses to submit a pre-notification of their claim to HMRC. This applies to new claimants or any business in the United Kingdom that has not claimed any R&D...
How to Pay Self Assessment Tax: Everything You Need to Know
In this article, we walk you through everything that you need to know about making sure you pay your self assessment tax bill in full and on time. Discover how to pay Self Assessment tax for your business in the UK. We also highlight some common pitfalls and issues to...
The New VAT Penalty Regime Explained
A new penalty system will take effect for VAT periods beginning on or after 1 January 2023. The aim is to penalise persistent offenders rather than those who make the occasional mistake or late return. The systems for late submissions will actually be different from...
Enterprise Management Incentive (EMI)
A Tax Efficient and Flexible Incentive to Attract and Retain the Best Employees Enterprise Management Incentive ("EMI") schemes offer tax advantages to employees of smaller companies with growth potential that qualify and can therefore help to attract and retain the...
Corporation Tax Rate Changes
The corporation tax rate will change from 19% to 25% from 1 April 2023 for many companies. Small companies with taxable profits of under £50,000 are unaffected and their rate of tax will remain at 19%. The full 25% only applies if profits exceed £250,000 and there is...
Advantages of Cash Flow Forecast for eCommerce Businesses
In this article, we consider how having an accurate and up-to-date cash flow forecast in place for your eCommerce business can positively impact the financial success of your business. What is Cash Flow Forecasting? How does it differ for an eCommerce business? A cash...
Shopify VAT: Everything You Need To Know
Unless you are trading in the UK only with an income of less than £85,000 and are NOT dropshipping from an overseas supplier, then you will need to consider how to account for VAT on your Shopify sales. What is Shopify VAT? VAT is a tax that is levied on the sale of...
Do I Need an Accountant For a Limited Company?
In this article, we'll look at some of the key things to consider when looking at whether to appoint an accountant for your limited company. What is a Limited Company Accountant And Why Does My Business Need One? In short, do I need an accountant? An accountant is an...