Business Tax: Keeping Tax Simple

Keeping tax simple by James Smith BSc ACA

A small business bible for bookkeeping, cash flow, tax and VAT

PUBLICATION DATE: May 2011
PAGES: 222
STATUS: IN STOCK

Overview of Keeping Tax Simple

This brand new guide explains in detail everything you need to know about small business bookkeeping, self-assessment tax, accounting and VAT.

Part 1 covers bookkeeping and accounting – you’ll discover how to grow your business and save hundreds of pounds in accountancy fees by taking control of your income and expenses.

Part 2 shows you how simple it is to complete a business tax return, using real-life illustrations – after reading this section you’ll have a solid understanding of how your business is taxed.

Part 3 contains an indispenable guide to VAT – how to register, how to fill in your VAT return, how to exploit various concessions and pay less tax.

The 2011/12 edition also contains a 30-page section on how to improve cash flow in your business and boost your profits. The author reveals all the tricks you can use to keep the money rolling in, including billing tactics that ensure every invoice gets paid quickly… without upsetting your customers! This section is essential reading in the current economic climate.

Keeping It Simple is recommended reading for:

* Anyone looking to take the hard work out of small business finances.
* Those who have just started a business or are thinking about starting a business.
* Sole traders looking for a plain-English guide to completing their business tax return.
* Anyone seeking a step by step, no-nonsense guide to VAT.
* Any businesses getting close to the VAT registration threshold of £73,000.
* Any businesses considering the advantages and disadvantages of voluntary VAT registration.
* All businesses that want to improve their cashflow.

What information is contained in Keeping Tax Simple?

One of the best things about this guide is its incredibly straightforward approach. You will find out everything you need to know about small business accounting, self-assessment and VAT within a few hours. It contains many practical tips and examples which will make your business accounting easier than ever. Subjects covered include:

* All relevant changes from the March 2011 Budget.
* The best way to keep track of your business income and expenses, using simple spreadsheets.
* How these spreadsheets can be used to generate useful information that will help make your business more profitable.
* An illustrated guide to easily and accurately completing your business tax return.
* A comprehensive list of any expenses you can claim against your tax bill.
* A plain-English, no-nonsense guide to VAT including how to complete your VAT return.
* A detailed look at the VAT Flat Rate Scheme.
* Other VAT schemes that will save you time and money.
* Guidance on choosing a reliable accountant or bookkeeper without incurring excessive fees.
* Guidance on choosing the best business accounting software.
* How to send out invoices that get paid on time and keep track of any outstanding invoices.
* What records you should keep to make sure the taxman stays happy.
* How to efficiently manage your business stock.
* How to recover VAT on overseas purchases and when travelling abroad.
* How to effectively manage your first employee including PAYE, contracts etc.

About the Author of Keeping Tax Simple

The Author of Keeping It Simple is James Smith BSc ACA. James Smith is the author of several guides for small business owners and private individuals. He originally trained with KPMG, one of the largest accounting firms in the country, and now runs his own accounting practice based in Oxfordshire dealing predominantly with owner managed businesses and property tax.

Contents of Keeping Tax Simple

SECTION 1 Basic Bookkeeping

Chapter 1 How to Keep Basic Records

Chapter 2 Basic Accounting Controls

Chapter 3 How to Send Out Invoices That Get Paid!

Chapter 4 What Records the Taxman Expects You to Keep

SECTION 2 Introducing VAT

Chapter 5 How VAT Works in Plain English

Chapter 6 VAT Jargon Demystified

SECTION 3 How Good Accounts Help a Business Grow

Chapter 7 Introduction

Chapter 8 Case Study 1: James’s Bookshop

Chapter 9 Case Study 2: Emily’s Art

SECTION 4 How to Complete Your Tax Return Without Fuss

Chapter 10 Business Tax Return Basics

Chapter 11 Case Study 1: A Simple Service Business

Chapter 12 Case Study 2: A Simple Stock Business

Chapter 13 Further Self-Assessment Issues

Chapter 14 General Self-Assessment Tips

SECTION 5 Accounting for Limited Companies

Chapter 15 The Basics

Chapter 16 How to Benefit from a Director’s Loan Account

Chapter 17 How to Claim Back Money from Your Company

Chapter 18 Limited Company Summary

SECTION 6 Everything You Need to Know About VAT

Chapter 19 Basic Bookkeeping with VAT

Chapter 20 How to Complete Your VAT Return

Chapter 21 Overseas Purchases & Sales

Chapter 22 Pros & Cons of the Cash Basis

Chapter 23 How to Benefit from the Flat Rate Scheme 124

Chapter 24 How to Complete Your VAT Return Online

SECTION 7 How to Pay Less VAT

Chapter 25 Who Should Register for VAT Early?

Chapter 26 How to Register for VAT

Chapter 27 VAT Schemes – Saving You Time & Money

Chapter 28 Clever VAT Registration Strategies

SECTION 8 How to Increase Cashflow & Boost Profits

Chapter 29 Why Is My Cash Flow Poor?

Chapter 30 Smart Business Strategies for Strong Cash Flow

Chapter 31 Great Billing Tactics to Get the Cash Rolling In

Chapter 32 Effective Credit Control

SECTION 9 Other Issues for the Small Business

Chapter 33 The Best Accounting Software

Chapter 34 Your First Employee

Chapter 35 How to Choose an Accountant or Bookkeeper

Appendix 1 Headed Paper

Appendix 2 Revenue and Customs Categories for Self-Assessment

Appendix 3 Flat Rate VAT Scheme Limits

Ordering Information

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Free guide included with every purchase

All customers will receive a complimentary electronic copy of our comprehensive tax guide ‘How to Save Tax 2011/2012′ – worth £19.95, with every purchase.

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