Browsing: BUSINESS

VAT registration is something many growing businesses encounter unexpectedly. Revenue approaches £90,000 and suddenly the question of whether to pass a 20% charge on to customers — and how — becomes genuinely pressing.

Claiming allowable expenses reduces your taxable profit, which directly reduces income tax and National Insurance. Many sole traders under-claim — either through uncertainty about what qualifies or through inadequate record-keeping. Knowing the rules clearly can save hundreds or thousands of pounds