11 Facts About Making Tax Digital
In response to various frequently asked questions we've compiled a list of 11 facts to help you get a better understanding about Making Tax Digital.
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Cash Or Card
There is little doubt that the arrival of contactless payment alternatives to cash has been a significant contributary factor, not only the demise of the high street bank, but also the number of ATM’s available to the public.
This evolution has implications to all forms of retailing but in particular the traditional community wet led pub and bar where cash is still very much king.
Staff Training; Cost or Investment
“Why even bother, it’s a waste of money, just another cost that the business can ill afford. As it is the wage bill has gone through the roof in the last couple of years with the advent of Auto enrolment and unwanted increases in minimum wage, and we get little or no loyalty at all”
Making Tax Digital
Paul's advice for small businesses
The biggest tax revolution in the UK is soon to be introduced with the introduction of "Making Tax Digital". Here at the Hayhoe Webb Partnership in Haddington we understand that the HMRC tax system is woefully out of date and needs considerable updating to bring it into the digital age.
Starting A New Business
Here we respond to the perennial question - "Should I form a Limited Company"
If I had a pound for every time someone said to me “I’m starting a new business and someone said I need to create a limited Company” I would be significantly wealthier than I am. That said, for those embarking on their first business the issue can be somewhat confusing; so let me attempt to dispel some of that confusion by firstly giving a very brief and simplified description of the main business entities and their differences.