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A Beginner’s Guide to The Accounting Cycle

A Beginner’s Guide to The Accounting Cycle

Financial statements are essential for your business as you can not secure loans, sell your business, or plan expenses without them. These statements are produced...
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Defined Benefit Pension Scheme – A Basic Guide for Beginners!

Defined Benefit Pension Scheme – A Basic Guide for Beginners!

In a defined benefit pension scheme, the amount of money you get in retirement is based on the number of working years for the company...
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What is Equity? Definition, Formula & Importance

What is Equity? Definition, Formula & Importance

A company balance sheet contains the term "equity." But this term is also common in personal finances, accounting, and amongst investors. This blog will inform...
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Registered Office Address and a Business Address – Basic Guide

Registered Office Address and a Business Address – Basic Guide

Knowing the difference between a registered office address and a business address can be confusing if you establish a limited company in the United Kingdom....
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Benefits In Kind – A Basic Guide!

Benefits In Kind – A Basic Guide!

In addition to your salary, if you are receiving any other benefits as part of your job, you may receive benefits in kind (BIK). Some...
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Explain the Difference between Contract purchase vs Hire purchase?

Explain the Difference between Contract purchase vs Hire purchase?

In the United Kingdom, contract purchase and hire purchase are the two most famous approaches for purchasing a car on finance. Some differences need to...
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Loaning Money to Your Own Company as a Director – Basic Guide

Loaning Money to Your Own Company as a Director – Basic Guide

When you set up your business, there are many initial costs, like accountancy fees, insurance premiums, stationery, and website packages. To pay for all these...
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Turnover vs Revenue – Top 8 Differences

Turnover vs Revenue – Top 8 Differences

In some contexts, “turnover “ and “revenue” are used interchangeably and often mean the same thing. Revenue is generated when assets turn over and bring...
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What is Depreciation and How to work out Depreciation in the UK?

What is Depreciation and How to work out Depreciation in the UK?

The value of the company assets like machinery, computers, and office furniture diminishes with time. Depreciation is an accounting term, which means as an asset...
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Financial Planning Tips for High Net Worth Individuals

Financial Planning Tips for High Net Worth Individuals

The financial planning requirements of high net worth individuals are different and more complicated than the regular investors. HNWIs (High net worth individuals) generally depend...
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Cloud Based Accounting – Why it is good for Small Businesses

Cloud Based Accounting – Why it is good for Small Businesses

Many businesses and accountants are shifting towards cloud-based accounting. They are requesting cloud based solutions, and the trend of using this technological innovation is increasing...
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Trading Name vs Company Name UK: Which One should I Use?

Trading Name vs Company Name UK: Which One should I Use?

Your company's title is an essential part of your brand and personality. It is shown on signs, printed material and expressed on all of your...
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Limited Cost Trader – Basic Guide for Small Businesses

Limited Cost Trader – Basic Guide for Small Businesses

The VAT FRS ( Flat Rate Scheme) was created to make it easier for companies to account for Value Added Tax and to minimise the...
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Corporation Tax for A Limited Company, How Much Is There To Pay?

Corporation Tax for A Limited Company, How Much Is There To Pay?

If you are running your business as a limited company, you must pay corporation tax. Limited corporation's tax rules are different from other corporations to...
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What is an Annual Return? – A Beginner’s Guide

What is an Annual Return? – A Beginner’s Guide

Every year, as a registered company owner in the United Kingdom, you must file your annual return to Companies House. In this article, we'll go...
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The Best Small Business Accounting Apps – Basic Guide

The Best Small Business Accounting Apps – Basic Guide

Many business owners are finding it difficult to choose the right accounting software for their small businesses. They are frustrated and overwhelmed by their workload....
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How do I File my Company Accounts?

How do I File my Company Accounts?

In the UK, limited companies are legally obliged to prepare and file their accounts at the year-end to send them to HMRC and Companies House....
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Payroll and PAYE – A Complete Guide For First Time Employers

Payroll and PAYE – A Complete Guide For First Time Employers

Payroll could be complicated for numerous foreign managers and companies that need to perform business transactions within the UK. So, in case you've got come...
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Everything You Need to Know About Company Tax Return!

Everything You Need to Know About Company Tax Return!

All limited companies in the UK need to file a company tax return at the right time. In today’s blog, we’ll have a look at...
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What is a Creditor and What is a Debtor?

What is a Creditor and What is a Debtor?

The terms creditor and debtor seem straightforward and are commonly used in the business lexicon. However, the practicalities of these terms can be tricky for...
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