M
@mariam_cha
7 posts

Creditors and debtors explained

Creditors and Debtors might seem like simple terms, and on the face of it they are, but the practicalities of how the two terms can be applied can quickly become confusing, this is mostly the case if you are a small business. As with many financial terms it’s easy to get them confused, so it’s important to clearly understand the difference.

What simple assessment means for you?

Under Simple Assessment, HMRC automatically calculates tax liabilities using a Simple Assessment Calculation ‘SAC’ for some taxpayers. This removes them from self-assessment system. The procedure will start by concentrating on new state pensioners and PAYE clients.

Parents, you could be losing entitlement for your future state pension.!

If you are a parent and claim child benefits HMRC has confirmed that you could be losing out on part of your future state pension.

loan charge 2019-- Are you prepared?

The Loan charge 2019 is a pain to many taxpayers who are affected by the Disguised Remuneration loan charge which takes effect on the 5th April 2019. The loan charge will apply to all disguised remuneration loans which are outstanding as at that date.

Key ingredients for business success

When you own your business, it is tempting to do all the tasks yourself both to save money and to give yourself the sense that you have oversight over everything. However, this can be a big mistake and can leave you swimming in inaccurate bookkeeping and restrict you from getting the most out of your business. That’s why an accountant is an essential necessity for any business. This blog will take you through why investing in a UK accountant is a sound business choice and how the best Accountants in London can take your business to the next level of success.

Are you utilizing personal tax to make money?

Personal tax is the tax that you pay on your income. This tax is largely related to your employment, however, there are other types of earnings that can also be taxed and for which you may owe money to the well-known creditor HMRC. In this article, we run through everything you need to know about personal tax including tax thresholds, the types of incomes that are taxable, tax relief, tax credit, and that all important tax return.

10 BEST CLOUD ACCOUNTING SOFTWARE

When running a business, ensuring your finances are in order is essential, especially when you have to deal with paying your employees and sending out invoices. Thankfully, technology makes everything easy, as you can use accounting software to do all the heavy lifting. With MTC around the corner finding the right tool is even more important now.