VAT Calculation Made Easy With The New VAT Calculator For UK

Among the various taxes applicable in the United Kingdom is the Value Added Tax or VAT. The earlier VAT rate for the United Kingdom was 17.5%. The current standard rate of the Value Added Tax in the United Kingdom is 20%. Value Added Tax is also applicable on goods and services which are imported from countries outside the European Union and imported into the UK through other countries within the European Union.

When can you charge VAT?

Business in the United Kingdom which want to collect Value Added Tax need to follow certain guidelines. As a part of this guideline, the initial thing that you need to do to start charging Value Added Tax is to register your business for Value Added Tax.

What are some of the items or services on which Value Added Tax can be charged?

According to the VAT guidelines, there are only certain items and services on which Value Added Tax is applicable. The various items and services on which Value Added Tax can be charged are:

  • On the sale of goods and services
  • On commission
  • On the sale of items to staff/team
  • On hiring goods to others
  • On selling business assets
  • On business goods used for personal reasons

What are the goods and services which are exempted from Value Added Tax?

According to the guidelines for Value Added Tax, there are certain goods and services which are exempted from Value Added Tax. It means that you can’t charge Value Added Tax on those goods and services. Some of the items and services which are exempted from Value Added Tax are as follows:

  • Health services provided by doctors
  • Insurance
  • Postage stamps or services

VAT calculator UK

With the help of the VAT calculator UK, you can calculate the amount of Value Added Tax on goods and services in the United Kingdom. This is extremely useful for people and businesses in the United Kingdom. It helps you figure out the Value Added Tax charged on a net amount or the Value Added Tax contained within a total amount. This calculator lets you change the Value Added Tax rate. You can add or subtract Value Added Tax from the gross amount easily.

One thing that you need to be careful about when using this online calculator is to check the dates on the invoice or receipt of the good or service. If the date mentioned on the receipt is prior to January 4, 2011, the standard rate applicable will be 17.5%. If the date is January 4 or later, the standard rate of 20% will be applicable.

We hope you found this post useful and informative. If you have any queries or suggestions related to this post or if you want to know more about Value Added Tax and VAT calculator, please let us know in the comment section below.  We would be glad to help you out. To show your support, share this post with your friends on social media and elsewhere.

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Types of Investors in India

There are a lot of investment types today and there is quite a bit to learn about each different investment type. If you are a beginner in the investment market, the stock market can be a big scary place especially if you know little or nothing about investing. Fortunately, the amount of information that you need to learn has a direct relation to the type of investor that you are. Talking about investors, they are basically classified into three types: the conservative investor, the moderate investor and the aggressive investor. Furthermore, all these investment types fall under two levels of risk tolerance slabs: high risk and low risk. Read on to know about these investor categories and what makes them different from each other.

The conservative investor

Let’s begin with the conservative investor. The conservative investor often invests in cash. His/her money is usually invested in mutual funds, money market accounts or savings accounts. One of the major reasons for investments in these type of investment options is that these are some of the safest investment options and have a comparatively lower risk factor.

The moderate investor

The moderate investor, on the other hand, invests in cash and bonds. These investors also take interest in the stock market. Moderate investors often make their investments in real estate, if it is low-risk real estate. The idea is to keep the risk factor low while looking forward to generating more profit from investments.

The aggressive investor

The aggressive investor commonly does most of the investing in the stock market, which involves higher risk. They also tend to invest in business ventures as well as higher risk real estate. They look for stocks with higher risks and higher returns. They put a large part of their portfolios in stocks of less well-established companies. This means they take higher risks with their investments. These investors sometimes get higher returns for taking such big risks. However, they have to be very active in monitoring the stocks they put their money in.

Before making any kind of investment, it is very important to clearly understand the different types of investments. Learn what these investments can do for you. Figure out which investments can fulfil your financial goals and then take the risk of investing. Once you have a clear understanding of the different investment types, you need to align these with your financial goals. Another thing that needs to be taken care of is that you stay invested for a long time. Long-term investments can bring higher returns. However, you can also go for short-term investments. It really depends on your financial objectives. If you are looking for low-risk investments, investing in mutual funds is a good option.

Check gold loan interest rate in India and get loans quickly. Knowing gold loan interest rate will help you get loans easily which you can use for your other investments and get high returns.

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Top 6 Small Business Ideas in Canada

Are you looking forward to starting a new business in Canada? If yes, you have come to the right place. Canada is one of the most favourable places for doing business. However, when it comes to deciding the right kind of business, most people are lost. This article covers 10 ideas for a profitable business in Canada. Let’s start by giving you an insight into the financial system of Canada. Besides getting the advantage of low tax rates, having your business established in Canada can help you build connections with top markets from around the world. Canada has a well-maintained transportation system which is perfect for moving goods, especially for international trade. Besides, the system of Canada tax brackets is quite organized and fair.

Now let us look at the top  Small Business ideas in Canada.

Transportation Business

A transportation business in Canada is quite profitable. The first thing you need to do is to decide the type of transportation business you want to start. Your options include medical transport, bus company, courier service, taxi service and trucking. You will need to get the required registration and get the required license and permit to start this business.

Computer Repair Business

This business is quite profitable in Canada. However, to start this business, you might need some experience. Besides experience, this business may require a license to start. Having a license makes people believe that you are a professional and this builds trust which is one of the most important things for a business.

Event Planning

If you are someone who has the skill to keep things organized, this business is a great option for you. Event planning is something that is always in demand. You can start your business by offering services for small events and gradually climb the ladder of success. With the right services, you will get noticed and you can soon start handling bigger events.

Interior Decorator

Businesses in interior decoration are becoming popular. Be it decorating a new home or redecorating an old one, interior decorators help people decorate homes and earn a decent amount for their services. The business requires you to decorate homes based on the specific requirements of the clients. If you love colours and have a flair for creativity, this might be the best business option for you.

Cleaning Business

A cleaning business provides cleaning services to clients. Your clients can be people from residential areas, commercial areas or both. The best thing about this business is that you do not need any special qualification or education to become successful in this business. However, you will need to familiarize yourself with the chemical products and the types of equipment that are needed to run your business.

Tax Specialist

Most businesses are overwhelmed when it comes to filing tax returns. If you are someone with a good knowledge about tax preparation, you can start your tax consultant business. Businesses will be ready to pay a good amount of fees for this kind of service.

These were some of the top small business ideas in Canada. Having a business up and running can be overwhelming in the beginning. You will need to have a good understanding of the tax system in Canada to make certain that your business runs smoothly. There are websites which provide tools like HST calculator and Reverse HST calculator which can help you calculate the HST rates and prices of goods and services inclusive and exclusive of the HST rates. To make sure that you run your business seamlessly, you need to make yourself accustomed to any kind of tax-related online resources, the likes of HST calculator and Reverse HST calculator. Also, make sure to check the Canada tax brackets for seamless business experience in Canada.

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Effects of GST on the E-commerce Industry in India

The execution of GST in India has brought a lot of advantages for the Indian e-commerce sector. Considering the fact that it is applicable across all Indian states, it has converted India into a unified tax market, mainly for e-commerce business. This article gives you an insight into the various advantages of GST for the e-commerce sector in India.

GST in India has replaced a number of indirect taxes like Central VAT, Central sales tax and Central Excise Duty to name a few. These have led to a dramatic reduction in compliance cost, facilitating seamless trade between industries and optimizing B2B e-commerce industry across the country.

Earlier, there wasn’t any specific tax law to regulate the Indian e-commerce industry. There were a lot of complexities in compliance of various applicable laws in different states of India. However, with the coming of GST, e-commerce companies now no longer have to face the complications of individual state tax laws.

GST has also simplified the logistics decisions, as currently the B2B e-commerce companies are enclosed within the individual state tax constraints. Previously, companies had to concentrate more on sourcing and warehousing based on tax implications, rather than convenience, distance or other strategic considerations. The implementation of GST has changed the scenario and now companies can have fewer, larger warehouses located strategically, and thus reduce their operating costs of logistics.

For a convenient GST experience for your e-commerce business, here are a few things that you need to keep in mind:

  1. Have your GST registrations done.

GST registration process can be done online through an online portal maintained by the Government of India. Click on this link to get your GST registration done.

2. Plan your warehousing requirement and logistics

E-commerce companies now have the choice to decide their warehouse size, location, inventory and operations management based on factors like manufacturing locations, proximity to consumption centres, optimization of goods movement, etc. This will lead to lower supply chain costs for manufacturers and reduced product prices for consumers.

3. Make use of technologies and platforms that help your business to be GST compliant.

The implementation of GST has given rise to a number of offline and online services that help you make your business GST ready. GST in Bharat is one such platform that can help your business become GST compliant. GST in Bharat helps you in calculating GST and reverse GST. This is one of the best platforms to use for e-commerce businesses to make sure that you save your time and money. This platform is absolutely free to use and you can even use the mobile app version of the website for Android phones. We highly recommend this website for GST calculation.

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Difference Between Long-term Investments and Short-term Investments

There are different types of mutual fund investments available today. There are short-term investments and long-term investments. There are, in fact, as many investment strategies as there are investors. Having to choose between this wide range of options can sometimes be daunting. Choosing between long-term investments and short-term investments is basically like choosing between how fast you want your investment to grow and how much risk you are willing to take.

Long-term investments are those investments which you plan to hold for more than one year. In most cases, you aspire to hold them for several years. On the other hand, you generally hold short-term investments for one year or less. Here are some of the major distinctions between short-term investments and long-term investments:

The intensity of safety and risk and the comparative rates of growth is what distinguishes short-term investments from long-term investments. Short-term investments last for a short while and give you a remarkable return in a short time frame. On the other hand, long-term investments last for several years with a slow but steady increase in returns that add up to deliver a significant profit at the end of the investment term. An ideal example of long-term investment would be Fixed Deposit in bank accounts. It is a worth it investment as banks offer attractive interest rates on FD. For estimation on how much you can earn from fixed deposits, refer to this online fixed deposit calculator. Using this online fixed deposit calculator, you can know your interest amount and also the various rates of interest offered by different banks.

Short-term investments carry a little more risk compared to their long-term counterparts. The rate of fluctuation is comparatively high in case of short-term investment. While there is a good chance of making more money from short-term investments, there is also a chance of losing money with short-term investments.

On the contrary, long-term investments can offer you stability and much lower risk while offering higher returns in the long run. Long-term investments are preferred as an investment option when the investor has a lot of time in hand, like in the case of a retirement fund, which grows over the years and matures just at the time when you need them.

With most of the long-term investments, you have less control over your money until the investment matures. Additionally, early withdrawals or selling of bonds and stocks are subjected to fines and penalties in long-term investments.

Therefore, before making an investment, it is sensible to compare the pros and cons of both short-term and long-term investments and then choose the one that best fits your current financial needs. This can save you from having to change your plans midway or sell it without much profit. If you are willing to take short-term investment as your major investment strategy, one good option is to choose SIP mutual fund plan. Click here to calculate SIP fund returns and compare SIP mutual fund plans.

As a beginner in the field of investment, you might need a mix of long-term and short-term investments. By learning the differences between these two types of investments, you will have a good idea of what to expect from your investments. This can help you make the right choices for your future investments.

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