If you are managing a private limited company or you are self-employed, you might have heard about capital allowance and you also wish to reduce your tax liabilities. Are you wondering what is capital allowance and how it works? Capital allowance is popular among businesses and yet it confuses many people in the United Kingdom. […]
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Sole trader advantages and disadvantages often confuse many newbies or fledgling business executives who are struggling to initiate their entrepreneurship journey. Therefore, if you are also looking at the options to step into the business ventures, you might have come across different options of being a sole trader, partnership or a private limited company. If
What are the Sole Trader Advantages and Disadvantages? Read More »
There are various ways to enjoy savings income tax-free. However, not all routes are open to all taxpayers – the options depend on the nature of the savings and the saver’s other earnings and marginal rate of tax. Savings Allowance Basic and higher rate taxpayers are entitled to a savings allowance. The allowance is
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Selling funds in a private limited company to raise funds can be an exhausting as well as a challenging task due to various reasons. For example, the selling shares requires investors whom a limited company will sell the shares. On the other hand, the company is liable to lose control over the company. Therefore, they
Guide About Selling Shares in a Private Limited Company to Raise Funds Read More »
Selling business assets requires intelligent and informed decision-making and that is impossible without considering the advantages and disadvantages of sale of business assets. Business assets sale is a means to acquire funds for different purposes. A business needs to sell its assets to get cash or to meet the business debt liabilities. On the other
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WebFiling companies house is an efficient, convenient and hassle-free procedure to submit information on your company. This paperless and cashless procedure requires the online submission of a company’s details. If you are going to start a limited company, you are required to register your company with the Companies House. Companies House maintains all the essential
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While preparing the financial reports and managing the cash flow, a company calls for the record of all the invoices issued and clarified. So, many of you might ask what is an invoice and why is it important for your business. In small businesses, the payments are important as they need cash to manage their
What is an Invoice? What is it Used For? Read More »
Legal expense insurance provides a cover against any cost incurred while suing a negligent driver, an unfair job loss or other such events. On the other hand, someone has put a claim against you and you have to bear legal expenses as a result. Higher legal costs can prevent you from going to court for
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In common with other types of business, expenses are unavoidable when running a property business. However, subject to certain conditions, it is possible to obtain tax relief for the expenses of running a property business. Allowable Expenses The general rule is that a landlord can deduct revenue expenses which are incurred wholly and exclusively
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The income tax provision is used while estimating the income tax for the current fiscal year. This estimation helps the businesses manage their short-term finances smoothly and beforehand. On the other hand, the process of income tax provision and its calculation make the tax liabilities estimation convenient before the actual date arrives. If you are
What is the Income Tax Provision and How To Calculate it? Read More »
