Tag Archives: accountant

Do You Really Need an Accountant to Make Your Vat Returns a Success?

VAT returns are considered a complex process that is also filled with a lot of burden. It is referred to as an indirect tax that the government charges on most of a business’s goods and services. If your business has a turnover of more than 85,000 euros, you will have to register for VAT. At … Continue reading Do You Really Need an Accountant to Make Your Vat Returns a Success?

How Private Residence Relief Can Exempt The Capital Gains Tax?

When you dispose of your residential property, you will accumulate a capital gains tax (CGT) on it. But you can get exemption from the same partially or fully with the private residence relief (PRR) and today we will discuss how. We will also discuss what affect the application of these instruments and whether any exceptions … Continue reading How Private Residence Relief Can Exempt The Capital Gains Tax?

What All Does an Accountant Need to Tell You about Multiple Dwelling Relief?

Before we get into an in depth discussion about Multiple Dwelling Relief, let us at first what it is. By lay man’s terms, it is an exemption provided by the HMRC to an individual, on the tax that is payable on the monetary transaction for the purchase of more than one dwellings.  In fact, a … Continue reading What All Does an Accountant Need to Tell You about Multiple Dwelling Relief?

Role of an Accountant in Helping Clients Reduce HMRC Tax on Company Car

Business runners are often in a dilemma about using their company cars. They are often concerned about the HMRC tax payable on the use of the company car. However, there are clauses that will help them get some exception. And it is the responsibility of the professional tax advisors and accountants to guide their clients … Continue reading Role of an Accountant in Helping Clients Reduce HMRC Tax on Company Car

What are the Top 10 VAT Inspection Errors that Seasoned Accountants Avoid?

When it comes to calculating the VAT a professional accountant cannot be lackluster, as it will invite a plethora of troubles in the form of errors that will put the clients in rough weather. That is the reason you must opt for a quality accountant, who will come up with some error-free VAT inspection. Therefore, … Continue reading What are the Top 10 VAT Inspection Errors that Seasoned Accountants Avoid?

The New Financial Schemes during the Post Pandemic Period

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

How Cloud-Based Accounting System Is Beneficial For Business during This 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

Covid-19 and its Effect on Business Accounting – Instant Actions to Weather the Storm

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

How does UK Government-sponsored CCFF Help Accountants During the Pandemic Period

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

Tax Rates & Bands Card for 2020-21- A Discussion!

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!