Let’s face it, 2020 was a year when any kind of plans be they business, holidays or just going out for a meal were completely ruined by COVID-19. So, in 2021, it is even more important than ever to have robust business plans in place. These...
The UK government recently brought forward their commitment to see the phasing out of new petrol and diesel cars from 2035, to 2030, with further plans to reach net zero emissions by 2050. One of the ways in which the government are encouraging the take-up of...
Being a sole trader is the simplest way to run a business, although you are personally liable for your business debts. All the business profits belong to you and are taxed as income, whether you take the profit for your own use or leave it...
For standard and cash accounting schemes: Standard = figures taken from sales and purchase invoice issue dates Cash = figures taken from sales and purchase invoice payment dates If you use a computerised accounting system, the VAT return figures will already be calculated for you but before submitting,...
No, it’s not the start of an ill-considered joke, nor is it a particularly crucial question in the grand scheme of things, but it is a point of some confusion, and an opportunity to discuss some of the technical issues that affect the accountancy profession...