Value Added Tax (VAT), in layman’s terms, can be defined as a tax that is levied on the consumption of various goods and services. Generally, any business would charge VAT on its customers based on the sales that they have generated. It will then remit the VAT that it has collected, to the National Tax … Continue reading What is Going to be the Likely Impact on VAT after Brexit?
The COVID 19-driven pandemic has changed our lives for quite some time, if not forever. It has changed the way we live, we think and above all, we behave. This sudden and all-encompassing change has affected every area of our life. The world of business has also seen a sea change during the post lockdown … Continue reading Efficacy of Cloud-based Accountancy in New normal Situation
Thanks to the COVID 19-triggered pandemic and the resulting lockdown, the economic scenario has seen a sea change in every aspect, prompting the governments from around the world to take steps on the economic front to deal with issues. The Govt. of the UK is no exception. It has brought in quite a few changes … Continue reading Things to Know About to Run Business in This Neo-Normal Pandemic-Ridden Scenario
Now that the economies around the world are opening up slowly with an effort to fight the pandemic and the financial meltdown, a lot of measures are being taken by the states to counter the fallout of the lockdown. New steps are taken and businesses and austerity measures in the form of financial push in … Continue reading The New Financial Schemes during the Post Pandemic Period
It is said that every dark cloud has a silver lining. The current pandemic situation has acted as a severe curse for the entire world. Still, in one way or the other, it has revealed one good thing that has so far been left either unrealized or unaccounted for – it’s the benefits of cloud-based … Continue reading How Cloud-Based Accounting System Is Beneficial For Business during This Pandemic Period
The economy in the UK is down to its knees because of the pandemic! There’s no doubt about it. However, it is perhaps high time to admit that the statement does not tell the entire story. It is a preamble of the things to come. Indeed, the full impact of this pandemic is yet to … Continue reading Covid-19 and its Effect on Business Accounting – Instant Actions to Weather the Storm
The economic scenario of the UK has suffered a terrible set back due to COVID 19 pandemic, akin to the rest of the world. As we write this page, the total number of COVID positive cases in the UK stands to the tune of 2,88,000 with 44,650 deaths being registered to date. While this the … Continue reading How does UK Government-sponsored CCFF Help Accountants During the Pandemic Period
THE INCOME TAX ALLOWANCE BETWEEN THE 2019-20 & 2020-21 ARE AS FOLLOWS Personal allowance: £12,500 (for 2020-21) similar to 2019-20. But this allowance was reduced by £1 for every £2 income from £100,000 to £125,000. Personal allowance income limit; £100,000 (consistent with 2019-20) Basic rate tax payer- £1000 (for 2020-21 & 2019-20) Higher rate tax … Continue reading Tax Rates & Bands Card for 2020-21- A Discussion!
In what can very well be termed as an unprecedented step in the history of the country, the UK was put under lockdown for the first time after the outbreak of the COVID 19 epidemic on 23rd March. It’s nearly 2 months since then and still, there is hardly any sign of relief visible at … Continue reading COVID 19 Pandemic – Effect on UK finance and Steps taken to Counter
It’s the fun of Christmas going on right now followed by the celebrations of the New Year. However, as soon as the ceremony is over, the pressure of daily struggle will ooze in. New Year indicates the starting of a new financial year as well. Therefore, people will be keen on knowing how the new … Continue reading Property Owners – 3 significant changes in taxation rules of 2018