How to Make A Company Dormant?
Whether you need a break for a while, you've got a permanent job offer that you can't refuse or want to retire, in such cases...
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What is Payment on Account? A Simple Guide
As a UK taxpayer, if you've submitted your tax return, you can check out your self-assessment tax bill to know: what you owe to the...
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What is Bookkeeping and How it is Important for your Business?
You most probably have heard the term bookkeeping, but do you know what exactly it is. Even in the world of business, you might not...
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Reclaim VAT On Business Expenses
VAT-registered businesses need to charge VAT on their sales and can reclaim the VAT they pay for business expenses. However, reclaiming VAT on expenses isn’t...
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What is Property Income Allowance?
The income you earn from land or property, along with the rental income gained from renting a part of a flat or house (like a...
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How to Avoid Capital Gains Tax on Gifts?
If you are wondering how to avoid capital gains tax on gifts, you're in the right place. You might have heard this many times that...
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Self Employed or Limited Company: What’s the Difference?
While setting up your business, one of the most crucial decisions to make is to choose a business structure. There are a lot of business...
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Reverse Charge on EU VAT
When an individual has experience with suppliers to avail their products or services in the EU countries, due to reverse charge the responsibility of recording...
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National Insurance for Limited Companies Explained!
If you are wondering about national insurance contributions, we can simply know them as one type of tax. For several employees, it comes just like...
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Variable Cost vs. Fixed Cost: What’s the Difference?
The cost has two main types: fixed cost and variable cost, these are incurred by a company when it plans to provide its services or...
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Public vs Private Accounting:
In case you intend to go for accounting in future, you might already know that this particular role is all about making financial reports like...
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Everything that you Need to know about Section 24 as a Landlord!
There are multiple cases in which we find the landlords confused about section 24. This is also known as the tenant tax. This basic guide...
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How does HMRC Define a ‘Personal Service Company’?
Sometimes the contractor set a company to provide their services to the clients that are known as PSC (Personal Services Company). This has been observed...
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A Basic Guide to Become A Successful Sole Trader!
A sole trader is a person who is self-employed and owns a business. According to research, about 60% of UK businesses are sole traders. This...
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I’ve Started a Business – What Do I Need to Do Now?
Have you just thought about getting into a new business and wondering how you can join a networking group? Getting your business an enchanting logo...
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What is IFRS (International Financial Reporting Standards)?
To make the financial statement in the UK according to international accounting standards can only be done when they are endorsed. All EU-endorsed IFRs are...
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Tell HMRC When you Change Company Name and Address
Does your company plan to make any changes in the basic information like the company address or change of name in business? It is important...
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All about Gifts and Exemptions from Inheritance Tax!
It sounds like a great idea to gift your friends and family when you can enjoy the benefit of reduced estate value for inheritance tax...
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Explanation of What is an Inward Investment and its Pros and Cons!
Are you associated with business and wondering what is an inward investment? The simple way to elaborate inward investment is when a foreign entity makes...
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What are the Benefits of Being VAT Registered?
When setting up a new business, some people may think that it is necessarily important to register for Value Added Tax (VAT). But, you need...
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