Oliver Gleave
Loop Software
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EXTRACTING PROFIT FROM THE FAMILY COMPANY The start of the new tax year means that shareholder/ directors may want to review the salary and dividend […]
When VAT was first introduced in the UK in 1973, it was hailed as a simple tax. As a VAT registered business supplying vatable products and services, you just charge your customers 20% VAT (or 10% as it was back then), you then simply deduct from that figure any VAT you’ve paid to your suppliers and pay the difference over to the VAT man or HMRC these days. Easy as that? Not exactly.
