By: Subash Ghimire When we talk about paying for the service of a professional accountant to look after the accounting and financial matters of a business, there are common misconceptions that the small business owners fall victim of. Some common myths about hiring an accountancy firm and their explanation is presented below. Myth 1- Accountants […]

Claiming input VAT on Flat Rate Scheme Normally the input VAT is not considered if your business is registered for a FRS. So you simply apply the percentage of Flat Rate applicable to your business and ignore the input VAT. But you may be losing some pounds if you have made a significant purchase of […]