• Self Assessment Tax Return Deadline 31st January, 2020

    As January 31st is approaching, people in the UK will have at their back of minds apart from Brexit, to submit their tax return. What is a Self Assessment Tax Return Self assessment is a way to declare and submit your income and expenses for the year to HMRC in

  • Spreading Joy Scheme, Not a Simple Referral Scheme

    Well, referral system if it may be called, however, I would call it our spreading joy scheme for our valued clients. That was what I told my colleague at our morning coffee meeting. But Talha, why not call it a simple referral scheme?, he said.  Let’s see how do we

  • Online Accounting Software or Cloud Accounting – A Step Ahead for Small & Medium Businesses

    Not long ago, we saw the trend of small & medium businesses to get an online presence through a website and linking it with their CRM. Well, lets take a step further. Nowadays, cloud based file sharing and online accounting is the trend. Mobile technology & smart phones have triggered

  • UK VAT Rates – Standard, Reduced & Zero Rated

    In the UK, there are 3 different rates of VAT and you must make sure you charge the right amount. Standard rate Most goods and services are standard rate. You should charge this rate unless the goods or services are classed as reduced or zero-rated. This includes: any goods below

  • How does VAT Works – UK

    How does VAT works? This Question “How does VAT works?” comes in mind of all business owners. VAT charged on things like: business sales – for example when you sell goods and services hiring or loaning goods to someone selling business assets commission items sold to staff – for example

  • Business Capital Gains Tax

    Business Capital Gains Tax: What you pay it on You may have to pay Capital Gains Tax if you make a profit (‘gain’) when you sell (or ‘dispose of’) all or part of a business asset. Business assets you may need to pay tax on include: land and buildings fixtures