Once he got past the introductory Labour-baiting in his Budget speech, one of the first things Chancellor George Osborne promised was a “modernised tax system”.
The Office of Tax Simplification (OTS) has said that the smallest businesses should be allowed to use receip
There has been much talk lately of accounting standards: what they are, what they are for, and whether they should be relaxed for some small businesses, explains Simon Sweetman.
The Institute of Directors (IoD) has come out in favour of the Office of Tax Simplification’s (OTS) proposal to use cash accounting as the basis for taxing small businesses.
Sales on ebay. VAT registered business. Cash Accounting for VAT.
Let's say; £12.00 sale including VAT.