Wins

In Progress

Blockers

Links

TL;DR

• Rolling 12-month test
• What to include in turnover

When you must register

• Threshold mechanics
• Forward look rule

What counts towards the threshold

• Taxable vs exempt supplies
• Zero-rated treatment

Timing and penalties

• Deadlines
• Backdating pitfalls

After registering

• Charging VAT
• Returns and records

Alternatives

• Voluntary registration
• Flat Rate Scheme

TL;DR

• Who the Flat Rate Scheme suits
• Pros and cons

Eligibility and joining

• Turnover limits
• Limited cost trader rule

How FRS works

• Sector percentages
• The 1% first-year discount

Worked example

• Standard VAT vs FRS comparison

When to avoid FRS

• High input VAT
• Capital purchases

Switching schemes

• Timing and admin

TL;DR

• The four key dates
• Avoiding penalties

Registration and UTR

• When to register
• UTR timing

Filing deadlines

• Paper vs online
• First-year quirks

Payment deadlines

• Balancing payment
• Payments on account

Penalties and appeals

• Late filing
• Late payment

Checklist

• Register
• File
• Pay

TL;DR

• Keep what matters, bin what doesn’t
• Retention periods

What to keep

• Invoices, bank statements, receipts
• Contracts and correspondence

How long to keep it

• HMRC retention rules
• Digital copies

Systems that scale

• Folder structure
• Naming conventions

Evidence quality

• Scans vs originals
• VAT evidence specifics

Audit readiness

• Spot-check checklist

TL;DR

• Why HMRC asks for payments on account
• How to avoid surprises

When POA applies

• Thresholds and triggers
• Exceptions

Calculating POA

• 50/50 split
• Reduced payments

Timing

• Due dates and practical tips

Changing circumstances

• Lower income year
• Claim to reduce

Example timeline

• First filing through second year

TL;DR

• Simplified vs actual expenses
• When each method wins

Mileage method

• Rates and what counts
• Logs and evidence

Actual costs method

• Fuel, insurance, repairs
• Business proportion

Home office

• Simplified flat rate
• Proportion of bills

Switching and consistency

• Year-on-year choices
• Audit-proofing

TL;DR

• What a compliant invoice needs
• How to get paid faster

Invoice essentials

• Legal requirements
• Numbering and sequencing

Payment terms and late fees

• Setting clear terms
• Late payment legislation basics

Payment methods

• Bank transfer
• Card links and PayPal
• GoCardless/Direct Debit

Chasing politely

• Email cadence
• Escalation steps

Credit control toolkit

• Deposits, milestones
• Engagement letters

TL;DR

• What capital allowances do
• When to claim AIA vs writing down

What qualifies as capital

• Equipment, computers, furniture
• Non-qualifying items

AIA

• Limits and timing
• Partial year purchases

Writing Down Allowance

• Pools and rates
• Example calculation

Cars and special rules

• CO₂ thresholds
• Mileage vs capital claim interaction

Records and evidence

• Invoices, dates, split business use

TL;DR

• Who needs software
• Quick picks by budget and features

Decision criteria

• MTD compatibility
• Invoicing, bank feeds, receipt capture
• Solo-friendly UX and price

Options overview

• Free or near-free
• Mid-tier
• Full-featured

Integrations

• Banks and payment processors
• Receipt apps
• Tax submission

Data ownership and export

• Getting your data out
• Backup strategy

Recommendation matrix

• Use-cases and suggested tools