accountants in london

Accountants in London – Sole Trader Vs Limited Company

There is a significant difference between running business accountants in London as a sole trader or as a limited company. Many people may not know it or do not understand it properly. Here in this blog, we will evaluate those differences. Let’s have a look.  Accounting and Tax Return Policies         Sole […]

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Used vehicle accounting scheme

Capital Allowance for Used vehicle accounting scheme and Assets in the UK

The basic definition of the term is that a Capital Allowance is an amount on which you claim tax relief for the wear & tear of the fixed assets. Nearly all of the business who have some kind of assets in the company can claim for this.  Items that can get you Capital Allowance You […]

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Overview of Making Tax Digital for Tax Returns and VAT

Overview of Making Tax Digital for Tax Returns and VAT

Making Tax Digital (MTD) is an initiative of the UK government that it took in 2015. It characterizes transformation to the way in which taxpayers record their financial transactions and submit their tax returns online. According to HM Revenue and Customs (HMRC), MTD is intended to make management easier, effective, and efficient for all taxpayers […]

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approved accountants for home office

WORKING FROM HOME

Overseeing office work from home is very beneficial and with the passage of time, many entrepreneurs are realizing this importance. Although it becomes quite hard to sustain a wall between your professional and personal life, you will get it when working in an extra room, a house, or maybe a building will not cost you […]

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Self-Assessment Tax Return – Penalties

Self-Assessment Tax Return – Penalties

As most of us know HM Revenue and Customs (HMRC) is UK’s Government department for dealing with the state taxes for all individuals & businesses, it collects the money paid by the UK public and assists targeted families and people with financial support. HMRC runs a system called Self Assessment for collecting income tax. How […]

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Marriage Allowance

Marriage Allowance

HMRC is having the drive to encourage people to claim the marriage allowance.  Introduced in 2015, the marriage allowance enables one partner in a married couple or civil partnership to transfer part of their personal allowance to the other partner. It is worth claiming if one partner is not able to use all of their […]

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Tax Returns

Tax Returns Claim on Annual Investment Allowance (AIA) Method

Capital allowance can be claimed when a business buys assets to be used in the business. As the asset is used for business purpose and would lose its value for wear & tear, therefore, the value of the asset can be deducted from profits before paying tax. However, there are different rules for different assets and […]

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Limited Company

How to Change Service Address for Limited Company Registration

Are you running your business, and want to officially register it as a Limited Company? The registrar of all the UK businesses; “Companies House” requires you to provide a service address of each of the director, PSC, secretary and member of the company (Ltd, LLP). This address is part of the public information and available […]

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Bookkeeper vs. Accountant – Who’s Right for Your Business?

Bookkeeper vs. Accountants – Who’s Right for Your Business?

What is bookkeeping services and accounting for business services? What is their role? What is the difference between the two terms? And which one is right for your business? If you are a business owner, regardless of the type of your business, you must have either encountered, are encountering, or will soon encounter these questions […]

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Company Tax Return

A Brief Introduction of UK Taxation System

UK government collects revenues mainly from: Income tax, National Insurance contributions, Value-added tax (VAT), and Corporation Tax Income Tax An income tax is a tax that governments impose on income generated by individuals or entities i.e. wages, salaries, commissions, dividends, interests, rents, etc. The income Tax year starts from 6 April and ends on 5 […]

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