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Self Assessment 2015/16

File your self assessment in time to avoid penalties The deadline for filing the self assessment tax return for last tax year 2014/15 is coming nearer and it’s is always better to act in time than to panic at the last moment. With GNS we assure you will never miss deadlines and incur penalties. All[...]
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Accounting for Small Businesses-Myths Clarified

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[...]
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Claiming input VAT on Flat Rate Scheme

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[...]
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