Accounting

What is VAT Value Added Tax (VAT) is the tax that we pay on the purchase of goods or services. It is applied at each stage of a supply chain. The standard rate of VAT in the UK is 20%. There are different VAT rates in each EU member state. How does a VAT refund … A guide for UK businesses to claim VAT refunds in EU countries.

When a business is facing financial difficulties, several different options and processes can be pursued to resolve the situation. Insolvency, liquidation, bankruptcy, and administration are commonly used in this context, but it can be challenging to understand the differences between them.  This blog will explain these terms clearly and concisely and help you understand the … The difference: insolvency, liquidation, bankruptcy & administration

Small businesses play a vital role in the UK economy, driving growth and innovation and providing employment opportunities. However, in recent years, small businesses have faced significant challenges, including the impact of the pandemic. To support these businesses and the UK’s economic recovery, the government has extended its support through the Small Business Rates Relief … Small business rates relief 2022/23

In this blog, we will explore the meaning of business creditors and debtors in more detail, their roles in a company’s financial operations, and their impact on a business’s overall financial health. Creditor vs debtor: The difference Creditors and debtors are terms used to describe the relationship between a business and its lenders or borrowers. … Business Creditors vs Debtors explained

If you own a UK property and are considering upgrading your heating system, now is the time to do so. The government has implemented a boiler upgrade scheme encouraging you to opt for low-carbon heating systems.

National Insurance is mandatory in the UK; it pays for certain benefits and the state pension. Whether you are employed or self-employed, our guide will give you the ins and outs What is National Insurance? National Insurance Contribution is a tax on earnings paid by employees and employers. Whether you have a job or are … Guide to National Insurance

Running more than one business is entirely possible as a sole trader. But with so much to consider, you might need a little help. We’ve put together this blog to discuss everything about running multiple businesses in the UK – from taxation to allowances What is a Sole Trader?  Being a sole trader means you … What I Should Know As A Sole Trader Opening Multiple Businesses

Renting your property on Airbnb has become an excellent way for many property owners and landlords to earn extra cash. If you live in the UK, a short-term property let (more commonly known as a Furnished Holiday Lets (FHL), has some great tax benefits, but you also need to be aware of them and pay tax … Paying tax on UK Airbnb income

What is QuickBooks online? QuickBooks is an accounting software developed by Intuit, a USA-based tech company specializing in financial software. QuickBooks was first a desktop application, operating locally on the premises. But, as has happened with most accounting software tools, it has now moved to the cloud and can be accessed from anywhere via a … QuickBooks Online Software Full Review for UK Businesses