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When do you have to register for VAT?

Published in Business finance on September 7, 2017 by Johnathan Korchak

Your business must register for VAT with HM Revenue and Customs (HMRC) if, over the past 12 months, your “taxable supplies” (closely based on your sales or turnover, not your profit) have exceeded the VAT registration…

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Tags: HMRC, taxation, business finance, VAT

How to register for VAT

Published in Business finance on October 6, 2016 by Johnathan Korchak

Some business owners will always feel more comfortable appointing an agent to register for VAT (as well as then submitting VAT returns and dealing with HMRC on their behalf). But there’s no requirement to appoint an agent and…

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Tags: HMRC, business finance, tax, VAT

What is an employer reference number?

Published in Business finance on December 10, 2015 by Johnathan Korchak

An employer reference number is a unique combination of letters and numbers, also called an employer PAYE reference, PAYE reference number or just abbreviated to ERN. It is given to a business when it registers with HMRC as an…

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Tags: company records, accounting, HMRC, PAYE, employment

What is a company’s unique taxpayer reference?

Published in Business finance on October 23, 2015 by Johnathan Korchak

A company’s unique taxpayer reference is a 10 digit number issued to all new limited companies. This unique taxpayer reference, often abbreviated to UTR and otherwise known as a corporation tax reference or just tax reference,…

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Tags: incorporation, company records, accounting, HMRC

How to make your trading company dormant

Published in Business finance on August 28, 2014 by Johnathan Korchak

Some companies are dormant from the day they’re formed. A lot of companies, however, will actively carry out a business for a while but then cease trading – at least for a period. These trading companies may be eligible to…

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Tags: dormant companies, company types, accounts

Why have a dormant company?

Published in Business finance on June 30, 2014 by Johnathan Korchak

The vast majority of companies actively trade, but there are also over 300,000 dormant companies registered with Companies House. Dormant companies benefit from reduced administrative requirements: in particular, they don’t have…

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Tags: dormant companies, company types

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