An unrepaid director’s loan account can have multiple implications if the director leaves the company. Firstly, such loans are recorded as a liability on the company’s balance sheet, meaning t...
When using Shopify to manage your online store, you can handle shipping settings directly through the platform without relying on third-party apps. Here’s how to effectively manage parcel sizes and ...
The decision to register for VAT as someone who runs workshops involves evaluating several factors. Here’s a detailed breakdown: Turnover Threshold: In the UK, you are required to register for VAT i...
When determining the cost of accounting services for a small business, several factors come into play, including the size of the business, the complexity of its financial transactions, and the specifi...
Yes, you can request an extension if you can’t pay your tax bill on time, but it’s important to understand the distinction between a filing extension and a payment extension. The IRS allows ta...
As a new owner of a small LTD company, understanding corporation tax and accounting practices is crucial to ensuring your business remains compliant with legal requirements and avoids any financial mi...
When a limited company makes a payment to a director, it is essential to create a clear and concise payment reference. This reference should indicate the nature of the transaction for accurate bookkee...
Purchasing a used car through a limited company can be a smart financial move under certain circumstances, as it may offer some tax advantages. Here’s a detailed look at the potential benefits and d...
To report cash salary payments to an employee to HMRC, you will need to ensure that you are complying with the appropriate payroll and tax obligations. Here are the steps you should take: Register as ...
Determining a reasonable monthly cost for hotdesking or office space depends on several factors including location, amenities, competition, and the intended use. Location: Office space prices can vary...