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Advisory Fuel Rates for Company Cars
HMRC sets the Advisory Fuel Rates (AFRs) to guide employers in reimbursing ...
A tax charge may arise if an employee is able to use a company car or van for private use. Talk to us today
Filing your Self Assessment tax return on time can help you avoid penalties from HMRC. These penalties can quickly ...
QuickBooks Self-Employed App Removal
Starting January 2025, the QuickBooks Self-Employed app will no longer be ...
Going Paperless with the HMRC App
If you find yourself puzzled by the absence of your usual Self Assessment ...
Those who work as self-employed contractors will likely need to submit a Self Assessment tax return each year. ...
Contrary to popular belief, directors do not automatically need to register for Self Assessment. The need to ...
HMRC introduced a new VAT Penalty System on 1st January 2023. This system replaced the old default surcharge ...
The VAT threshold is the maximum amount of VAT-taxable turnover your business can earn in any rolling 12-month ...
VAT, or Value Added Tax, is a consumption tax that businesses charge on most goods and services. Businesses ...
Business Asset Disposal Relief
Business Asset Disposal Relief is a tax scheme which helps business owners keep ...
The Autumn Budget 2024
The 2024 Autumn Budget brings changes across wages, business taxes and public spending. ...
What is Deferred Income?
A business generates deferred income, sometimes called "unearned income", when it ...
Back in the Spring Budget 2024, the government announced the abolition of the Furnished Holiday Let (FHL) Tax ...
What is a Trial Balance?
A Trial Balance summarises all the debit and credit balances in a company’s accounting ...
What is Bank Reconciliation?
Bank Reconciliation is the process of comparing the transactions recorded in your ...
What is a Company Year End?
Your Company Year End depends on your business and typically aligns with the date you ...
A financial year end marks the conclusion of a 12-month period used by businesses to track, report and assess ...
What is a Tax Year End?
The UK Tax Year runs from 6th April until the 5th April of the following year. HMRC uses ...
What is Solvency?
Solvency refers to a business' ability to meet its long-term financial obligations. Simply, it ...
What is Liquidity?
Liquidity measures how easily an asset converts into cash without losing value. Consider cash ...
What are Fixed Assets?
Businesses purchase fixed assets as long-term assets for continuous use. Businesses do not ...
What is a Liability?
A liability is a debt or obligation a company must settle. This can be in the form of money, ...
The Employment (Allocation of Tips) Act
From 1st October 2024, millions of workers across the UK will see a boost ...