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Tax Investigation Insurance is a specific type of cover that protects you from the professional fees you will ...
An HMRC Tax Investigation, also known as a compliance check, is an official review of an individual's or ...
What is a Cash Flow Statement?
A Cash Flow Statement outlines the inflows and outflows of cash and cash ...
What is an Income Statement?
An Income Statement, also known as a Profit and Loss Statement (P&L), summarises ...
What is a Balance Sheet?
The Balance Sheet provides a snapshot of a company's assets, liabilities and equity at a ...
What is a P45?
A P45 document records details about your income and the tax you've paid while working for a ...
What is a P60?
Your employer issues a P60 at the end of each tax year, summarising your income and tax deductions ...
What is a P30?
Employers use a P30 form to report their National Insurance Contributions (NICs) to HMRC. In the ...
What is an Accounting Journal?
An accounting journal is a record where businesses document their financial ...
What is an Accounting Ledger?
An accounting ledger records all financial transactions organised by account. This ...
What is an Accounting Period?
An accounting period is a specific timeframe for which a business prepares its ...
The Bank of England Cuts the Base Rate to 5%
On the 1st August 2024, the Bank of England cut the base rate from ...
What is a Business Bank Account?
A business bank account specifically manages the finances of a business. Unlike ...
Contractors under the Construction Industry Scheme (CIS), must deduct tax from payments made to subcontractors. ...
PAYE, or Pay As You Earn, is the system HMRC uses to collect Income Tax and National Insurance Contributions from ...
National Insurance, or NI for short, is a tax on earnings that funds various State Benefits. Employees, the ...
The Cycle to Work Scheme is a government-backed initiative that helps employees save money on bicycles and cycling ...
National Insurance funds the State Pension and several contributory benefits. However, not every worker pays ...
Maternity Allowance can support your income when you take time off to have a baby. Many self-employed parents rely ...
The Personal Allowance is the amount of income you can earn each tax year before paying Income Tax. For the ...
HMRC uses the Self Assessment system to collect Income Tax and requires taxpayers to complete a yearly tax return. ...
Does Tax Apply to Marketable Securities?
Yes, tax does apply to Marketable Securities. Marketable securities ...
What is Football Transfer Tax?
Football Transfer Tax refers to the tax implications and regulations surrounding ...
Tax in the UK follows a progressive structure, meaning the more you earn, the higher the percentage of tax you pay ...