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How to set up a Limited Company with HMRC as a non-UK Resident?

How to set up a Limited Company with HMRC as a non-UK Resident?

Want to find out how to set up a limited company with HMRC as a non-UK resident? Don't worry, the process is pretty simple, even...
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What is Bank Reconciliation and How to Do it?

What is Bank Reconciliation and How to Do it?

In this digital banking system, many people overlook the importance of bank reconciliation. However, you need to remember that banks can also make mistakes. To...
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Furlough vs Layoff: Explaining the Difference

Furlough vs Layoff: Explaining the Difference

Coronavirus pandemic has adversely affected the business industry by reducing the resources of the business owners. Consequently, business owners are contemplating for employees' furlough or...
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Run a limited company? Here’s What You Need to Know About Workplace Pension Contributions

Run a limited company? Here’s What You Need to Know About Workplace Pension Contributions

If you're a limited company owner looking for a tax advantage, workplace pension contributions are worth considering. These contributions are taken as an allowable business...
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3 Reasons Your Small Business Needs a Good Accountant

3 Reasons Your Small Business Needs a Good Accountant

To properly run a business, you’ll need the steady flow of records, reports, data, and other accurate reports, all reflecting your business’s assets and liabilities,...
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Zero-Based Budgeting: Importance, Steps, Pros and Cons

Zero-Based Budgeting: Importance, Steps, Pros and Cons

Zero Based Budgeting is a technique used in budgeting that involves preparing the budget from zero base. This method helps companies to align their spending...
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Can I use Company Money to Pay my Personal Mortgage?

Can I use Company Money to Pay my Personal Mortgage?

People, who're in the contracting business, often ask us 'Can I use Company's money to pay my personal mortgage?' The answer is no! Read on...
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What is the VAT Flat Rate Scheme and Can it Benefit my Company?

What is the VAT Flat Rate Scheme and Can it Benefit my Company?

If your business charges additional VAT from customers on your goods against the VAT it pays to buy things, the difference must be paid to...
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Can a Sole Trader have Employees?

Can a Sole Trader have Employees?

Wondering can a sole trader have employees! Of course, if a person wants to expand his business, he/she can hire more people for his business...
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How Much Does It Cost To Hire A CPA?

How Much Does It Cost To Hire A CPA?

Irrespective of the size, every business has to maintain accounts. Whether you're a sole trader, startup, freelancer, landlord, or small business, you need an accountant...
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The UK Value Added tax Rate (VAT) Explained

The UK Value Added tax Rate (VAT) Explained

Value-added tax (VAT) is levied on goods and services in the UK. It is a type of consumption tax, as it is levied on the...
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Why Do Contractors Need Pensions?

Why Do Contractors Need Pensions?

To live a life like today after retirement, you need to invest in pensions. Pensions are the seeds that need to be planted and watered...
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What is an Early Payment Discount?

What is an Early Payment Discount?

Early payment discount is also known as prompt payment discount. It is the early settlement discount buyers receive in exchange for paying invoices early. You...
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The rules for tax-free childcare

The rules for tax-free childcare

In Oct 2018, the tax-free voucher was replaced by a tax-free childcare scheme. The childcare scheme is aimed at providing £2000 annually per child for...
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Things You Need to Know While Buying a Car Through Limited Company

Things You Need to Know While Buying a Car Through Limited Company

New rules have been introduced from 6 April 2020 for buying a car through a limited company. If you buy a car through a limited company,...
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Advantages & Disadvantages of a private Limited Company

Advantages & Disadvantages of a private Limited Company

One of the most famous business structures in the UK, a private limited company is limited by shares. But you might be curious to know...
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What’s the Difference Between Leasehold vs Freehold Property?

What’s the Difference Between Leasehold vs Freehold Property?

Curious to find out the difference between leasehold vs freehold property? This blog post will let you know how you can own the property in...
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3 Ways Involved in Incorporation of A Company UK

3 Ways Involved in Incorporation of A Company UK

The UK is one of the world's best markets to start a business. You can gauge the business-friendly culture of the UK by the great...
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What is Money Laundering? Process and Effects

What is Money Laundering? Process and Effects

Money laundering can adversely affect businesses, countries, and economies. It is a three-sided offense where money is generated illegally, concealed, and turned white. In this...
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How to Avoid Paying Tax on Rental Income?

How to Avoid Paying Tax on Rental Income?

Many of our customers (especially landlords) often ask this question. The answer of which is quite simple, there is no way to avoid paying tax...
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