Accounting for small businesses is often a pain point for many new entrepreneurs. However, proper accounting is absolutely essential for business success. Businesses come and go! Whether you’re a start-up, freelancer, sole trader or run a limited company, having a handle on your finances from day one is crucial. In this guide we present some
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The Flat Rate Scheme (FRS) offers simplified VAT accounting for businesses that meet specific eligibility criteria. The simplicity of FRS makes it attractive to smaller businesses, particularly if your business has little recoverable VAT expenses. This guide walks you through the details of how businesses can join, remain in, or leave the FRS, and explains
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The Flat Rate VAT Scheme (FRS) is a popular choice for small businesses as it helps to simplify VAT reporting. However, if your business spends a minimal amount on goods, you might fall under the Limited Cost Trader category, which affects the VAT rate you pay. Let’s dive into what it means to be a
The Flat Rate Scheme (FRS) was introduced to make VAT reporting simpler for small businesses by eliminating the need to track and claim VAT on purchases. Instead, businesses apply a fixed rate of VAT (known as the flat rate percentage) on their total VAT-inclusive turnover.We’ve already explored ‘What is the VAT Flat Rate Scheme (FRS)
How to Operate the Flat Rate VAT Scheme (FRS): Accountant’s Insight Read More »
When it comes to VAT registration, small businesses and self-employed individuals often grapple with the complexity of VAT returns. Read more on VAT here!The Flat Rate VAT Scheme (FRS) offers a simpler alternative for small businesses, designed to reduce the administrative burden while keeping your tax obligations in check. Let’s make it as easy as
What is the VAT Flat Rate Scheme (FRS) for Small Businesses: 8 Step Guide Read More »
If you’re running a small business, you’ve probably encountered the term VAT and may be wondering what it means for your operations. Value Added Tax (VAT) is a crucial part of the UK tax system, impacting businesses across all sectors. Whether you’re new to self-employment or considering VAT registration, understanding how it works, the benefits,
some thoughts… The Myth of the Free Market We like to believe that in a capitalist society, the market is free, driven by competition, and shaped by the choices of millions of individuals. This belief, however, conceals a far more troubling reality: the economy is increasingly controlled and planned by a small number of large
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some thoughts… A Seductive Narrative The story of modern society is one of relentless individualism. From an early age, we are taught that our destiny is ours alone to forge, that success or failure rests squarely on our shoulders. This narrative, seductive in its appeal to personal responsibility, has permeated every aspect of our lives,
We Need to Talk About The Impact of Individualism on Collective Action Read More »
some thoughts… The State vs. the Market – The False Dichotomy In the mythology of modern capitalism, the state and the market are often depicted as opposing forces. The state, we are told, is a lumbering giant, prone to inefficiency and corruption, while the market is nimble, innovative, and the true engine of progress. This
We Need to Talk About The State’s Role in Protecting Corporate Power Read More »
some thoughts… The Capitalist Promise of Freedom In the grand narrative of modern society, capitalism is often portrayed as the ultimate embodiment of freedom. We are told that within a capitalist system, individuals are free to choose, to compete, and to succeed based on their own merits. The market, we are assured, is the great
We Need to Talk About The Illusion of Freedom Under Capitalism Read More »
