Tax Implications of Writing Off a Bad Debt
Companies and self-employed businesses with a turnover exceeding £150,000 a year are obliged to prepare their accounts using the ‘accrual’ basis of calculating profits i.e.
Accounting, Tax & Business Blogs
Explore expert accounting, tax, bookkeeping, and business advice from across the UK. Get practical tips, financial insights, and the latest updates to help you manage your finances and grow your business.
How Long to Keep Receipts for Taxes?
When you are in the role of being associated with the business world as a sole trader, as a business partnership, or you might carry
How Do I Contact HMRC to Change My Address?
There are several people who are struggling with the query like how do they get in touch with HMRC when they have to intimate about
Corporation Tax Rate Changes – What are Tax Implications?
Most directors know that as of 1 April 2023, companies with taxable profits in excess of £250,000 will pay corporation tax at the main rate
How Does R&D Tax Credit Work?
If you are associated with the technology world in the UK, you must have heard about the R&D tax credit given to certain companies. This
Dealing With an Increasing Tax Compliance Burden
The increasing tax compliance burden has become a great challenge to business owners whether they are associated with a large-scale business or a small business.
NIC Position if you are Employed and Self-Employed, Deferment
With different rates and limits of National Insurance contributions (NIC) for the 2022/23 year, anyone who has more than one paid job or who is
Taxation of Company Vans in 2023/24
A tax charge may arise under the benefit in kind legislation where a company van is available for an employee’s private use. If fuel is
Basis Period Reform – Preparing For the Transition
As part of the move to Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA), the basis period rules are being reformed. Despite the
How to Reduce Company Car Tax?
Being associated with a company comes with its own perks and benefits. One of the prominent perks that people dream about is getting a company
What are Zero Rated VAT Items?
When you are an individual who is carrying out business activities in the UK, you are aware of the fact that being registered for VAT
How is it Helpful to Register a Business for VAT?
If you are carrying out a business in the UK, regardless of whether it is a large-scale business or a small business, getting registered for
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