Monthly Archives: February 2025

Understanding the Profit Breakeven Point

For any business, knowing when it will start making a profit is crucial. The profit breakeven point is the moment where revenue covers all costs-meaning you're no longer losing money, but you're not making a profit yet either. Understanding this point helps business owners make informed decisions about pricing, sales targets, and cost management.Why Is…
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Selling online and paying tax

Selling online? Whether it's a hobby or a business, you may need to pay tax if your earnings exceed £1,000. From services to content creation, it's vital to understand self-assessment rules and new reporting obligations for online platforms starting in 2024.If you are selling anything through an online marketplace, it is important to know that…
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Rolling over capital gains

Business Asset Rollover Relief allows you to defer Capital Gains Tax (CGT) when reinvesting proceeds from selling business assets. By rolling gains into the cost of new assets, tax is postponed until the new asset is sold. Learn how this relief can optimise your business investments.Rolling over capital gains is a useful way to defer…
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Claiming VAT on pre-registration purchases

Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made after VAT registration. The rules differ for goods and services, with time limits of 4 years for goods and 6 months for services. Proper understanding ensures you don't miss out.VAT can only be reclaimed if the pre-registration costs relate to taxable…
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