The VAT flat rate scheme may seem simple, but in reality this scheme can cause confusion for the businesses. Under a flat rate scheme, you need to pay a fixed rate of VAT over to
Property Developer
Corporate Tax: Allowances & Reliefs
Corporate taxes liable on the taxable profits made by the businesses in the UK during a particular accounting period. Although the corporate tax is a bit complex, it is manageable if handled properly. The main
How to Work out VAT on a Calculator
Value Added Tax (VAT) is charged on most goods and services purchased from the VAT registered businesses at standard rate of 20% in the UK. In addition, goods and some services that are imported from
What are the Common Bookkeeping Mistakes to Avoid?
Recording each financial detail may not seem a fun task. But trust me; doing this can save your money and time and most importantly from the stress later on. You should know that bookkeeping is
What Dental Accountants Offer You?
When you are in a dental practice, working and running your practice at the same time can be a difficult process. Furthermore, you may not have the expertise for creating financial planning and management required
The New UK GAAP: List of Standards
Have you heard about the new UK GAAP before? If not, you can learn and know more about it right now. From 1 January 2015, a new financial reporting framework came into effect in the
Will the National Minimum Wage Raise Work?
According to the announcement made by the Chancellor, George Osborne, the national minimum wage in the UK will be increased to £6.70 per hour from October 2015 and £7.20 per hour from April 2016 for
What You Need to Know About Income Tax?
Do you know what income tax is? Well, it is a tax which you need to pay on your income or earnings. This income tax you pay in each tax year depends on how much
National Insurance Contributions
As National Insurance (NI) is a tax paid on earnings and self-employed benefits, anyone residing in the UK must be familiar with this term. If you are employed, National Insurance is automatically deducted from your
Which Type of Accountant is Right for You?
Is your business poorly managed? If yes, you need to find and choose a right type of accountant who can help you with the smooth operation of your business. But, wait before you jump into
Is ‘7 Day Working Policy’ Fair for Doctors?
With the constant ongoing debate on ‘seven working policy’ between Health Secretary Jeremy Hunt and the GPs, anyone can assume that this battle will not settle easily. As the government seven day policy has been
Four Common Accounting Mistakes to Avoid
If you have to name one part that your business, mostly tend to make mistakes at, you would probably say it is the accounting section. As accounting mistakes can range from minor to major ones,
