by Pi Accountancy | Sep 9, 2021 | VAT
Hospitality Industry VAT Rate Increase – 1st October 2021 In July 2020, the VAT rate for the tourism and hospitality sector was temporarily reduced to 5%, from 20%. The businesses that were able to take advantage of the reduced rate include; Hotels Restaurants Hot... by Pi Accountancy | Aug 25, 2021 | Quickbooks, VAT
When you pay VAT in QuickBooks Online, you are recording the payment against a specific VAT period; you are not actually transferring money to HMRC. Below is a short video on how to record your VAT payment in QuickBooks Online. Record a VAT payment Go to Taxes, then... 
by Pi Accountancy | Jul 9, 2021 | HMRC, PAYE, Self Assessment, Tax, VAT
From 15 June 2021, all businesses and organisations will need multi-factor authentication in order to sign into the Government Gateway. Multi-factor authentication Businesses and organisations that use HMRC’s online services and which do not currently receive an... 
by Pi Accountancy | May 22, 2021 | Business, HMRC, PAYE, Self Assessment, Tax, VAT
Business records if you’re self-employed You must keep your records for at least 5 years after the 31 January submission deadline of the relevant tax year. HM Revenue and Customs (HMRC) may check your records to make sure you’re paying the right amount of tax.... 
by Pi Accountancy | May 12, 2021 | Business, COVID-19, HMRC, Self-employed, Tax, VAT
As more people are now working from home, the desire for a designated workspace has become a priority for many. The past year has forced many workers to fill up the dining table and any other flat surface available with monitors, computers, laptops, cables, Wi-Fi... 
by Pi Accountancy | Apr 8, 2021 | HMRC, MTD, Tax, VAT
Corporation tax increase from April 2023 The main rate of corporation tax is due to increase to 25% for the financial year 2023, starting on 1 April 2023. However, companies with profits of £50,000 or less will continue to pay corporation tax at the current rate of...