Tax Advice
Namechange for HMRC MLR
HMRC’s Anti Money Laundering Supervision (AMLS) team has changed its name to Economic Crime Supervision (ECS). As part of continuing changes to the service, the anti money laundering supervision team (MLR) will now be knows as the Economic Crime Supervision team. You will begin to see this new name on correspondence from April 2021. This change does not affect its responsibilities under…
Read MoreSole Trader vs Limited Company
“Should I be a sole trader or a limited company as a virtual assistant?” We get asked this a lot from start-up virtual assistants or those thinking of becoming a virtual assistant. Certainly the vast majority of VAs are sole traders (81% of UK VAs are sole traders*). But then the majority of VAs are…
Read MoreVAT Registration – for VAs!
It is very unlikely that you will have to register for VAT, at least initially, as a virtual assistant. You only have to register if: Your turnover (the amount you invoice your clients) for the previous 12 months is more than £85,000, the threshold at the time of writing, OR You expect to go over…
Read MoreAnti Money Laundering Regulations for Virtual Assistants
If you offer bookkeeping or accountancy services, you should be registered for Anti Money Laundering Regulations. Over the course of the last 18 months or so we’ve been working closely with VAProMag and HMRC to achieve two aims for the VA industry: Clarity surrounding who needs to register – including consistent advice when people call…
Read MoreIR35 – Freelancers Targeted by Government and what Virtual Assistants need to know
IR35 Virtual Assistants – what freelancers need to know IR35 is something you’ll have seen bandied about on forums and freelance blogs recently… In fact, we’ve even heard of clients advising one another not to hire a VA “in case you get caught out by IR35”. So what is it? And why does it apply…
Read MoreMoney Laundering Regulations – Campaign for Virtual Assistants
So last week we asked you to tell us about your experience of asking HMRC for Anti-Money Laundering Regulations advice as a virtual assistant – we had a great response and Joanne Sparkes of VA Pro Magazine co-ordinated the replies (all 31 of them!) into a letter asking HMRC to clarify their position on what…
Read MoreMoney Laundering Regulations
Jo Sparkes of VA Pro Mag has bravely decided to tackle the thorny issue of Money Laundering Regulations (MLR) registration as anecdotally we’ve heard so many different rules regarding whether or not VAs should register and what is and isn’t allowed. At times it feels like if you called them 10 times, saying exactly the…
Read MoreBusiness Advantages of Bookkeeping for VAs
The role of virtual assistant can be incredibly rewarding- especially if you have a roster of high paying clients. Naturally, virtual assistants are incredibly organised people; however, bookkeeping is an area which is usually forgotten about.
Read MoreFestive Goodies… Kashflow freebies!
Ho ho ho…. Those lovely peeps over at Kashflow sent some Xmas goodies with their festive greetings this year: I have 2 x year long Kashflow licences to give away worth £192 each! Ideal for newbies or just those who find numbers very confusing (like me!!) this is the idiot’s way of doing your books…
Read MoreBudget 2012 for Virtual Assistants: April’s tax & business news overview
James at TWD Accountants gives us his overview of how the budget will affect virtual assistants:
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