Contractor Accounting - Tax on Dividends

Graphic Comparison, Historic Tax Rates & Personal Allowances Graphs

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self assessment & self employment

Self Employment & Self Assessment

Self Employed is the simplest way to start a business, it could range to any business whether you work on small scale or on large scale,  whether you have a team working for your or you are a sole trader in the business, if you are self-employed, you would need to complete a Self Assessment […]

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VAT margin Schemes

Income Tax Rates 2014-15

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Accountants in London for your business

Accountants in London for Your Business

London is a city rich in culture, and no part is an exception. In fact, it’s one of the best areas for art galleries, small theatre venues and some interesting museums. You can expect an outstanding education at a top university in a supportive and inspiring environment when you study in London. London is full […]

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Bookkeeping Services for Financial Records

RTI-Important facts of RTI interest for Employers

It is essential for employers to know that RTI does not do real-time adjustments for the PAYE debt. Each month is treated as a separate period for which interest calculation is performed. 19th of every calendar month is the last day for any adjustments/amendments you can make to the PAYE amount due for the tax […]

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Landlord Accounting – Tax implications

If you are an individual and own property in the UK that you have rented out, you are liable to file self-assessment tax return of yourself. You have to register yourself for self-assessment at any time during or after the period in which you earn property income. The income tax for Landlord is same as […]

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Directors' loan accounts and Corporation Tax implications

Directors’ loan accounts and Corporation Tax implications

The director’s loan account is the amount paid to director other than salary and dividend, it can be  cash payments other than your salary or dividend  expenses that you may have paid for using company funds that are actually for personal use  money is withdrawn for your personal use – for example, to renovate your […]

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Tour Operators Margin Scheme

Tour Operators Margin Scheme (TOMS)

The information provided in this article shows how you must account for VAT if you buy-in and re-sell travel facilities as a principal or undisclosed agent (that is, acting in your own name). TOMS is a special name given to businesses that buy-in and re-sell travel, accommodation and certain other services. Traditional tour operators are […]

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Distance selling into the UK from other EU countries and VAT

Distance selling into the UK from other EU countries and VAT

If you’re a VAT-registered business outside the UK but in another European Union (EU) country and you sell and deliver goods to customers in the UK or the Isle of Man who isn’t VAT-registered – and don’t have to be registered – then you’re ‘distance selling’. Sales you make to customers who are VAT-registered don’t […]

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allowable expenses

Allowable Expenses

The Costs you pay with the sole purpose of earning profits from your business are allowable expenses. This means that any cost you incur outside the due course of the business is not allowed to be considered as a business expense. The expenses incurred may or may not include VAT on them. If it includes […]

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