As part of the UK launch of our latest version of QuickBooks, Catherine Harrell, Small Business Specialist at Intuit took to the airwaves to talk about the issues facing UK small businesses today.
She spoke to over 15 radio stations around the UK, sharing some great tips for those thinking about starting a business, and also on how to cope with one of the key challenges of today – the rumoured VAT changes.
Couldn’t get to the radio in time? Click on the podcast below to hear Catherine’s interview with Waves Radio 101.2 FM in North East Scotland.
Some of the advice that Catherine shared for small business owners that are concerned about imminent or future VAT changes included:
• Save time and headaches by automating your bookkeeping: if you’re using spreadsheets or paper-based methods to keep track of your accounts, filing VAT can be extremely time-consuming. Using some simple accounting software can take the pain out of this process and greatly reduce the likelihood of a costly mistake in calculation. When changes in VAT rates do happen – you can automatically update your records with a minimum of fuss!
• Make the most of online resources: there is a wealth of important information and handy tips available online which can help you to get prepared for any upcoming changes. Take a look at the HMRC website to keep up to date with VAT Notices, news and updates. There are also many forums where other UK small business owners are happy to share their experience.
• Don’t get caught out: with all the pressures of running a business, it’s easy to forget important dates such as deadlines for VAT returns and payments. However if you miss the deadline, you may have to pay a surcharge. Keeping your books up-to-date will help you to avoid rushing to calculate VAT and making errors.
Have we missed something? Feel free to add your top tips on coping with VAT by commenting below.


