MTD for Income Tax is a change, not a crisis. With the right support, it becomes just another well-managed part of your business.
MTD for Income Tax is a change, not a crisis. With the right support, it becomes just another well-managed part of your business. Click here to learn more.
‘Debtors’ are people or businesses that owe money to you. ‘Creditors’ are people or businesses that you owe money to. In day-to-day terms, debtors are usually customers with unpaid invoices, while creditors are usually suppliers with bills you haven’t paid yet.
A full VAT invoice needs to include things like the supplier’s name, address and VAT number, a unique invoice number, the dates, what was supplied, the amounts and the VAT charged. Simplified invoices of £250 or less can contain fewer details.
Accounting profit is the profit shown in your accounts. Taxable profit is the figure used to calculate tax after the relevant tax adjustments have been made. So the two can, and often do, differ.
I started Invi because I believe your business should give you freedom, not constant low-level anxiety.
Your numbers shouldn’t feel intimidating or out of reach. They should feel manageable. Understandable. Useful.
When you have clarity, you make better decisions. And better decisions build stronger businesses.
