business service

The Making Tax Digital Requirements

Posted on

The MTD compliance deadline is approaching fast and businesses and big brands are gearing up to ensure that they are on the right side of the history. However, very few people know the exact information that needs to be stored digitally as per the HMRC requirements. With Making Tax Digital, it will not be a matter of scanning documents and uploading them digitally, nope, every transaction must be recorded and stored digitally and therefore can be viewed as a standalone transaction. The business data will be recorded real-time but the submissions shall be done on a monthly or quarterly basis.

But what needs to be kept digitally in this MTD thing?

Designatory data

In your business first quarterly update, HMRC requires the following information to be included; your organization or business name, the physical and post office box address of the business location, VAT registration number, and the existing …

business service

Forex 101

Posted on

What is forex? Well simply put its trading between different types of currency based upon its value. It’s likely you’ve engaged in this exchange if you traveled abroad and visited a country using a type currency other than your own. If you take a trip from the US to France you’ll have to convert your amount in dollars to euros. Based on the value of the two currency which is determined by supply and demand dictates how many euros you will receive for your US dollars. Due to the changing supply and demand of each country’s currency the exchange rates always are changing.

The forex market is also know as currency trading and is a decentralized market which spans globally. Currency trading is known to be one of the most liquid and largest market in the world. The average daily trading volume surpasses 5 trillion. With an immense market, high …