If you are a new business owner, bookkeeping in some form is going to be essential to organising your finances, allowing you to keep up-to-date records of both your income and your outgoings.
Public liability insurance should be seen as an absolutely essential business expense. It’s an insurance policy that you purchase to protect your company and cover your legal costs and expenses if you have to defend yourself, and your business, against legal action.
Almost every consumer in Britain pays it, and it’s a staple talking point during the Chancellor’s annual budget. But what exactly is VAT and do you need to register your limited company for it?