Category: Finance and Accounting

What Details Need to Appear on a VAT Invoice for Courier Services in the UK?

There are strict, but thankfully very simple, rules for what needs to appear on a VAT invoice in the UK. To satisfy HMRC you need to include on your invoice: The date of issue of the invoice. A sequential number that uniquely identifies the invoice. Your business’s name, address and VAT registration number. The name […]

Can I claim back the VAT on the things I bought before I was registered for Vat

When you first register for VAT you’re allowed to claim back the VAT on some of the things you paid VAT on before you became VAT registered. The claim should always be made on your first VAT return. HMRC are ‘allowed’ to let you claim at a later stage but they don’t have to do […]

I’ve registered my courier business for VAT – what now?

Once you’ve applied to be registered for VAT it can take anything from 2 weeks to 3 months (even longer in certain cases) for you to receive confirmation of your registration and your VAT registration number. Unless you’ve taken the (sometimes sensible) option of starting your registration on a date in the future you could […]

I need to take action to recover a bad debt, what should I do?

Whilst it’s tempting just to go to and issue a claim through Small Claims it’s important that you only do this as a last resort. You need to be able to show the court that you have already taken reasonable steps to get your money – including making a formal request for payment making […]

What are Late Payment charges? The Late Payment of Commercial Debts (Interest) Act 1998 gives you the right to claim interest and compensation for late payments. This is a statutory right – your customer doesn’t have to agree to it, you don’t have to inform them in advance that you intend to charge them if they pay late […]

Should I be VAT Registered?

Should you be registered for VAT? Almost certainly – unless you do a lot of work (say over half your turnover) for private individuals or companies that aren’t VAT registered. Otherwise you’d be crazy not to register for VAT – you’re just handing the government your money. Having decided that you need to be registered […]

Would I be better off using the Mileage Allowance Scheme?

Self-employed people with a turnover under the VAT registration threshold (whether they’re registered or not) are allowed to claim HMRC Approved Mileage Rates instead of actual running costs. 40p/mile for the first 10,000 miles then 25p/mile. Since the government haven’t raised the rates since the scheme was introduced in 2002 it’s not quite as beneficial […]

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