Disposing of capital assets in FreeAgent

In FreeAgent you now have the ability to dispose of capital assets.

Previously you could record the purchases of capital assets but there was no way to explain if you’d sold an asset.

You can now explain transactions as disposal of capital assets, which will prevent further depreciation, ledger the balancing charge and get all the accounts right.

VAT MOSS in FreeAgent

HMRC have recently changed the way tax is handled for businesses supplying digital services to consumers in the EU.

From January 1st 2015, VAT on digital services is paid in the consumer’s country, not the supplier’s country, and is charged at the rate that applies in the consumer’s country.

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