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Accounting

FLEC VAT: Is It Really Worth It?

AccountingJune 4, 202544Views 0Likes 0Comments

At NiS Accountants, we’re often asked whether joining the Flat Rate VAT Scheme (FLEC VAT) is the right choice. The answer? It depends — and many businesses are surprised to find that it may not be as beneficial as it first appears. What is FLEC VAT? The Flat Rate VAT Scheme is designed to simplify…

Are You Ready for Making Tax Digital? Nearly Half of Sole Traders and Landlords Aren’t.

AccountingMay 27, 2025166Views 1Like 0Comments

With major changes to the way self-employed individuals and landlords report their income just around the corner, new research has revealed a worrying trend: nearly half of UK sole traders feel unprepared for Making Tax Digital (MTD) for Income Tax. According to a recent study conducted by IRIS Software, almost one in three sole traders…

Maximizing Tax Efficiency: Dividends vs. Benefits in Kind

AccountingMay 27, 202568Views 0Likes 0Comments

Dear clients and business owners, at NiS Accountants, we understand the importance of optimizing your income while minimizing your tax and National Insurance (NI) liabilities. As an owner-manager of a company, you're likely keen to explore the most tax-efficient methods for taking income from your business. While dividends are a popular choice, there are situations…