Capital and revenue always go hand in hand with your business and they are two broad categories which are highly essential for success of your business in any accounting period and help your small business to earn and improve profits. When you utilise the...

As a small business, it may be hard to imagine paying more tax on income that you have perhaps been used to as an employee at another business, I personally can?t imagine voluntarily paying tax or national insurance to the government however for all our h...

Travel and Subsistence expenses that can be deducted from net taxable profit as tax allowances for car mileage rates, meal allowances and travel and subsistence allowance expenses. Subsistence allowance expenses broadly include additional travel expenses ...

Accounts bookkeeping is a wonderful skill to have should you wish at some stage to set up in business. The large proportion of workers that are currently being made redundant, are those most expected to be the ones that use their loss of employment to fac...

Due to unfamiliarity with the technical aspects of double entry bookkeeping non accountants frequently have problems understanding the financial accounting terms of business revenue profit and loss and balance sheet cash and bank transactions. This misund...

Accounting home software is bookkeeping software which can be very valuable to self employed business owners running a small business, even medium businesses use off the peg business software. It can help you track critical areas of your business like pay...

Accounting for tax can be defined as the method of accounting for tax on income, finance accounts or indeed anything based on finance accounts that has to be reported to the Inland Revenue. Many laws look after taxes and there are many principles that gov...

Income tax calculator in accounts ledger with tax income rates calculation in finance accounts 2008 tax return to produce net taxes financial profit Paye tax calculator and salary tax calculator are essential features of payroll tax calculations to calcul...

The Inland Revenue tax authority has been around since 1665 and until 2005 was a direct taxation department where in all the matters with regard to taxation and its various policies were resolved by the British Government. Income tax, national insurance c...

A Vat registration form is required to be submitted by every proprietor of a company or firm reaching the vat threshold limit providing information about the status of the business. This applies whether the firm is solely owned or in a partnership, and al...

Setting up your own entrepreneurial business is a huge decision, and one of the most important decisions a budding businessman may choose to make in their lifetime. Every entrepreneur who has chosen to set up a small home business or start a business in t...

Asset means value with regard to accounting for business and is a business possession..You have full rights to claim for property if it has been earned through your business income or on income taken on loan, such as property used to run the business such...

National insurance contributions are paid by all employees over the age of 16 whose gross income exceeds the national insurance threshold and forms part of the taxes collected by the inland revenue. Employers also pay additional NI contributions. In years...

The main importance of accounting records lies in the fact that it holds true for all uneven situations and keeping a proper note of financial transactions can prove useful for you in times of problematic conditions. So whether business is big or small a...

You can visit HMRC Inland Revenue online where you can log in and sort out your tax related issues. The inland revenue website itself offers a huge amount of help and provides all manner of information regarding income tax, value added tax and any other f...