by Admin | Jun 30, 2020 | Business Support
Literally, the word depreciation means a reduction in the value of an asset over time. It recognises the fact that if you buy assets for your business – cars, plant, computers etc – as time marches on the value of those assets will decrease. In double...
by Admin | Jun 30, 2020 | Business Support
You may have come across the terms debit and credit and perhaps wondered exactly what do they mean? Certainly, if you are a bookkeeper or accountant you will or should understand their significance. The first book on the subject was written by Italian mathematicians...
by Admin | Jun 25, 2020 | Tax Diary
1 July 2020 – Due date for Corporation Tax due for the year ended 30 September 2019. 6 July 2020 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July 2020 – Pay Class 1A NICs (by the 22 July...
by Admin | Jun 24, 2020 | Income Tax
The cash basis scheme helps many sole traders and other unincorporated businesses who benefit from a simpler way of managing their financial affairs. The scheme is not open to limited companies and limited liability partnerships. The scheme allows qualifying...
by Admin | Jun 24, 2020 | Income Tax
The assessment of self-employed or partnerships profits is usually relatively straight-forward if the accounting date, to which annual accounts are prepared, falls between 31 March and 5 April. However, overlap profits can arise where a business year end date is not...
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