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Closing a Limited Company: A Simple Guide

Closing a Limited Company: A Simple Guide

Depending on your circumstances, closing a limited company can sometimes be an easy process but sometimes it can turn out to be a gruelling task...
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How to Get Money Out of a Limited Company Without Paying Tax?

How to Get Money Out of a Limited Company Without Paying Tax?

Running your own company can be more tax-efficient than working through an umbrella company or sole proprietorship. Through it, you can get rewards for your...
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How to Make A Company Dormant?

How to Make A Company Dormant?

Whether you need a break for a while, you've got a permanent job offer that you can't refuse or want to retire, in such cases...
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What is the Difference Between Revenue and Income?

What is the Difference Between Revenue and Income?

Wondering what is the difference between revenue and income? Even as a business owner, you may find these accounting terms confusing. Revenue and income can't...
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What is Payment on Account? A Simple Guide

What is Payment on Account? A Simple Guide

As a UK taxpayer, if you've submitted your tax return, you can check out your self-assessment tax bill to know: what you owe to the...
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What is Bookkeeping and How it is Important for your Business?

What is Bookkeeping and How it is Important for your Business?

You most probably have heard the term bookkeeping, but do you know what exactly it is. Even in the world of business, you might not...
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Reclaiming VAT On Expenses – A Beginner’s Guide

Reclaiming VAT On Expenses – A Beginner’s Guide

VAT registered businesses need to charge VAT on their sales and can reclaim the VAT they pay for business expenses. However, claiming back VAT on...
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What is Property Income Allowance? A Basic Guide

What is Property Income Allowance? A Basic Guide

The income you earn from land or property, along with the rental income gained from renting a part of a flat or house (like a...
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How to Avoid Capital Gains Tax on Gifts?

How to Avoid Capital Gains Tax on Gifts?

If you are wondering how to avoid capital gains tax on gifts, you're in the right place. You might have heard this many times that...
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Self Employed or Limited Company: What’s the Difference?

Self Employed or Limited Company: What’s the Difference?

While setting up your business, one of the most crucial decisions to make is to choose a business structure. There are a lot of business...
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Reverse Charge on EU VAT

Reverse Charge on EU VAT

When an individual has experience with suppliers to avail their products or services in the EU countries, due to reverse charge the responsibility of recording...
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National Insurance for Limited Companies Explained!

National Insurance for Limited Companies Explained!

If you are wondering about national insurance contributions, we can simply know them as one type of tax. For several employees, it comes just like...
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Ways a Limited Company can Manage a Cash Surplus!

Ways a Limited Company can Manage a Cash Surplus!

Do you own a limited company and wondering about how to manage cash surplus and what possibly can be the smartest way to manage it?...
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Variable Cost vs. Fixed Cost: What’s the Difference?

Variable Cost vs. Fixed Cost: What’s the Difference?

The cost has two main types: fixed cost and variable cost, these are incurred by a company when it plans to provide its services or...
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Public vs. Private Accounting: Definition and Key Differences

Public vs. Private Accounting: Definition and Key Differences

In case you intend to go for accounting in future, you might already know that this particular role is all about making financial reports like...
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Everything that you Need to know about Section 24 as a Landlord!

Everything that you Need to know about Section 24 as a Landlord!

There are multiple cases in which we find the landlords confused about section 24. This is also known as the tenant tax. This basic guide...
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How does HMRC Define a ‘Personal Service Company’?

How does HMRC Define a ‘Personal Service Company’?

Sometimes the contractor set a company to provide their services to the clients that are known as PSC (Personal Services Company). This has been observed...
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A Basic Guide to Become A Successful Sole Trader!

A Basic Guide to Become A Successful Sole Trader!

A sole trader is a person who is self-employed and owns a business. According to research, about 60% of UK businesses are sole traders. This...
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I’ve Started a Business – What Do I Need to Do Now?

I’ve Started a Business – What Do I Need to Do Now?

Have you just thought about getting into a new business and wondering how you can join a networking group? Getting your business an enchanting logo...
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What is IFRS (International Financial Reporting Standards)?

What is IFRS (International Financial Reporting Standards)?

To make the financial statement in the UK according to international accounting standards can only be done when they are endorsed. All EU-endorsed IFRs are...
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