What is Statutory Sick Pay? A Simple Guide
In recent years, after the outbreak and spread of Covid-19 in the UK and across the world, the role of Statutory Sick Pay (SSP) became...
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What is Return On Investment (ROI)? Definition, Importance, Formula
If you are looking for a metric to measure the profitability of your investment, Return on Investment (ROI) is the way to find out. It...
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How Much Does an Accountant Cost?
Wondering how much does an accountant cost in the UK? There is no fixed cost, it depends on a lot of factors. A fee of...
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What is Cash Basis Accounting in the UK?
Wondering what is cash basis accounting? It is an accounting method that you need to know as a small business owner in the UK, as...
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What is Value Added Tax (VAT) and How Does VAT Work?
VAT can be complicated, especially for the one who has just started out. Newcomers face a lot of difficulties to understand financial technicalities and jargon....
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What is Accountant’s Certificate of Confirmation?
An accountant's certificate of confirmation is a letter issued by a certified accountant/accounting firm. This certificate acts as proof that the accounts of a person...
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What is a Confirmation Statement? A Basic Guide
Onward from June 2016, the UK government replaced the Annual Return (AR01) with a similar document known as the confirmation statement (CS01). This annual statement...
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How to Find a VAT Number?
A unique VAT (value-added tax) number is assigned to each VAT-registered business. If you're a VAT-registered company, you'll need the VAT number of other companies...
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How to Keep Your Accounts Organised?
Financial integrity is the lifeblood of any small or large company. So, organising your accounting and finances should be an achievable goal. By this, you...
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What is Cash flow – A Basic Guide!
It is important for every company to maintain a good cash flow(CF). If you do not have a good cash flow, it would be difficult...
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Enterprise Management Incentive (EMI) – A Basic Guide!
The Enterprise Management Incentive (EMI) scheme offers tax advantages for many SMEs. It's a share option scheme that allows employees to acquire shares after meeting...
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What is Cost of Sales and How to Calculate it?
You are required to understand the flow of money through your company in order to calculate the profits and debts accurately. In addition, if you...
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What is Universal Credit, Its Benefits?
If you are under state pension age and above 18, but you don't have work. Or maybe you have work with low income. You must...
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Business Asset Disposal Relief – Guide for Beginners!
The Entrepreneurs’ Relief has been renamed Business Asset Disposal Relief (BADR) since March 2020. It minimises the capital gains tax rate to 10 percent on...
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Chart of Accounts – A Basic Guide!
You are required to set up the chart of accounts (COA) in case you are taking over bookkeeping in your new company. If you do it rightly,...
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What is a Close Company – A Basic Guide!
Within the United Kingdom, the term close company is totally different from closing the company, and it solely impacts private limited corporations. This term does...
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Can I be Self-Employed and Employed at the Same Time?
If you're looking for a way to increase your income while still working full-time, you might be thinking if you can be self-employed and employed...
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What is Child Benefit and How to Claim It?
If you want to raise your family budget and you've just had a baby, you can claim child benefit anytime, but it is better to...
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What is Crowdfunding and How Does It Work?
The crowdfunding platforms provide small businesses a way to quickly raise large sums of capital from various minority lenders, customers, or investors in a short...
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How Overdraft Works: Types, Limits, Costs & Advantages
In case you need to pay unexpected expenses, an overdraft may be a thoughtful way of borrowing money from your bank in the short term....
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