http://www.articlealley.com en-us editorial@articlealley.com 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... http://www.articlealley.com/article_912783_19.html 03rd June 2009 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... http://www.articlealley.com/article_912685_19.html 03rd June 2009 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 ... http://www.articlealley.com/article_911304_19.html 02nd June 2009 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... http://www.articlealley.com/article_910166_19.html 01st June 2009 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... http://www.articlealley.com/article_909022_19.html 01st June 2009 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... http://www.articlealley.com/article_900159_19.html 18th May 2009 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... http://www.articlealley.com/article_898097_19.html 18th May 2009 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... http://www.articlealley.com/article_888046_19.html 12th May 2009 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... http://www.articlealley.com/article_861566_19.html 17th April 2009 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... http://www.articlealley.com/article_860517_19.html 16th April 2009 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... http://www.articlealley.com/article_860289_19.html 16th April 2009 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... http://www.articlealley.com/article_859780_19.html 16th April 2009 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... http://www.articlealley.com/article_859641_19.html 16th April 2009 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... http://www.articlealley.com/article_858104_19.html 15th April 2009 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... http://www.articlealley.com/article_856831_19.html 15th April 2009 Setting up in small home business should mean that you learn how to keep accounting and finance accounts and financial information should you plan to be successful in your chosen business. Regardless of the quality and professionalism employed relating to... http://www.articlealley.com/article_855484_19.html 10th April 2009 Every self employed business is required to register the business with HMRC within three months of commencing trading. Following registration HMRC issue the unique tax payers reference and annually send out the self assessment tax return. The self assessm... http://www.articlealley.com/article_821610_19.html 12th March 2009 The financial benefits of preparing basic accounts bookkeeping records and producing the self assessment tax return can be overlooked. Starting bookkeeping at home is an option for anyone self employed and is important as the self assessment tax paid each... http://www.articlealley.com/article_820048_19.html 11th March 2009 Late filing of the tax return is an important issue as not only can it attract a late filing fine but also brings the accounting and finance quality into attention. Accounting & Finance for your 2008 Tax Return - Do not Be Late With nearly a fifth o... http://www.articlealley.com/article_817039_19.html 10th March 2009 The company accounts year end reports to HMRC and Companies House are different for small private limited companies. Companies House accept abbreviated year end accounts including a profit statement and balance sheet with notes and statutory statements. ... http://www.articlealley.com/article_791388_19.html 20th February 2009 A new employer needs to register with HMRC as an employer and operate a PAYE scheme and make important checks on each new employee recruited and complete the initial paperwork to set up the employees pay records of tax national insurance and personal deta... http://www.articlealley.com/article_672309_19.html 21st October 2008 By adopting an approach of researching the opportunity and getting the administration right from the start the chance of success is increased, and that is important, as more new start up businesses go out of business leaving the sole trader with personal ... http://www.articlealley.com/article_661456_15.html 13th October 2008 It is preferable to maintain regular basic accounts as part of the financial control bearing in mind that all debts of the business are personal to the trader. By preparing monthly accounts cash flow can be managed more effectively and an estimate of futu... http://www.articlealley.com/article_661452_15.html 13th October 2008 A private limited company advantages include: 1. Limitation of Liability There is no distinction between business money and personal money for anyone self employed as all business debts are the personal responsibility of the sole trader. The private... http://www.articlealley.com/article_651855_15.html 29th September 2008 Virtually everyone in the UK is entitled to a personal allowance if they are resident in the UK which entitles them to tax free income, the amount of that tax free income being dependent on the size of the personal allowance according to the specific circ... http://www.articlealley.com/article_648703_19.html 25th September 2008 In order for a sole trader to be able to keep basic tax accounts certain conditions regarding the status of business accounts must be satisfied. Sales turnover should be under the vat threshold limit, a balance sheet not required, a business bank account ... http://www.articlealley.com/article_645449_19.html 23rd September 2008 Income tax is deducted by an employer from the gross salary of an employee according to the inland revenue tax percentage applicable to those earnings taking into account personal tax allowances and reliefs available. Income Tax percentage rates for Em... http://www.articlealley.com/article_644756_19.html 22nd September 2008 1. There can be a variety of reasons why a new employee does not have a P45 Whatever the reason if a new employee does not provide the new employer a P45 form on the day employment commences then the employer has a responsibility to submit the P46 form. ... http://www.articlealley.com/article_632505_19.html 09th September 2008 When a business registers for vat the vat rate should be added to all sales from the date of registration. The standard vat rate is 17.5 per cent of the sales value. The value added tax added to sales is known as the output tax. Value added tax paid to... http://www.articlealley.com/article_629448_19.html 09th September 2008 When a limited company is formed the founding subscribers and directors will decide the company name which when submitted forms part of the company registration.. First of all the last word in the name for company must be limited, unlimited or public l... http://www.articlealley.com/article_625224_15.html 08th September 2008 Tax accounting software for a private limited company in the UK includes the using accounting software to produce the vat tax return and calculate the company net profit with the tax software calculating the outstanding tax liability and producing an auto... http://www.articlealley.com/article_622235_19.html 05th September 2008 Tax accounting software has its basics in each of the three elements of the title. Accounting being the production of the financial accounts in a template format suitable for the tax system. Tax and tax software denotes the inclusion of the tax rules with... http://www.articlealley.com/article_621700_19.html 05th September 2008 Opportunities exist to advertise bookkeeping services although several do not justify the marketing investment. An essential first step is to determine all potential promotion areas, set an advertising budget for each sales channel and maintain a record o... http://www.articlealley.com/article_615719_19.html 02nd September 2008 Networking to increase the exposure of the bookkeeper and build the home bookkeeping services is the essential element to building a clientele of quality bookkeeping clients. Of particular relevance is meeting the owners of new start uop businesses who ar... http://www.articlealley.com/article_615593_19.html 02nd September 2008 The tax implications of balancing the salary paid, corporation tax liability and declaring dividends is in effect a dividend tax calculator and important in the dividends calculation. The gross salary is paid net after paye deductions for income tax wh... http://www.articlealley.com/article_611513_19.html 28th August 2008 The articles of association of each company limited by shares determines the formal procedures to be followed in respect of declaring company dividends, In the distribution of the company net profit after corporation tax dividends represent the amount of ... http://www.articlealley.com/article_611234_19.html 28th August 2008 The first stage is to ensure the organisational chart clearly represents the management responsibility of each department and activity area. Financial accountancy and cost accounting should be integrated and aligned to enable detailed management informati... http://www.articlealley.com/article_601243_15.html 16th August 2008 Fixed assets are the long term items the business owns which the business has acquired and uses to generate business over a number of years. Fixed assets consist of tangible items such as land and buildings, plant and machinery, fixtures and fittings, veh... http://www.articlealley.com/article_598975_19.html 14th August 2008 Income tax and national insurance contributions must be calculated and deducted from the employee each pay period, payslips produced for each employee and the tax liability accounted for and paid over to the inland revenue office. Calculating the deductio... http://www.articlealley.com/article_598282_19.html 14th August 2008 To qualify for being able to file shortened accounts a small company should satisfy at least two of three conditions. The three exemption conditions prior to April 2008 were that annual turnover is less than 5.6 million pounds, balance sheet total is less... http://www.articlealley.com/article_594342_19.html 12th August 2008 Five proactive steps a business can take to beat the credit squeeze including business finance, planning and taking a positive approach to meeting and solving the problems that might arise. The credit squeeze is a fact of business life and is not just ... http://www.articlealley.com/article_583685_19.html 22nd July 2008 Cost accounting is a complex subject that specialist accountants use to examine and report on business expenses to ensure financial control. Such expert cost accounting might involve absorption costing, marginal costing, break even and variance analysis. ... http://www.articlealley.com/article_560041_19.html 20th June 2008 It is a natural phenomenon for small business to be deeply involved in the particular skills and operations of the business. A fundamental issue that many small businesses overlook is that the particular industry in which they work and their personal skil... http://www.articlealley.com/article_559272_19.html 20th June 2008 Marginal costing is an accounting term in which costs and expenses are identified by their variability according to the volume of goods bought or produced. By analysing costs according to the variability in prices can significantly improve profit efficien... http://www.articlealley.com/article_556064_19.html 13th June 2008 Bookkeeping based upon cash accounting principles is the easiest accountancy practise but not necessarily the most accurate or beneficial for tax purposes for the business. This is because cash accounting adopts the date of financial documents such as sal... http://www.articlealley.com/article_555226_19.html 12th June 2008 When the tax authority investigate the small business tax return deficiencies in the record keeping and accounting, lack of tax knowledge by the enquired and professionalism by the tax inspector often results in a higher tax bill. A solid system of boo... http://www.articlealley.com/article_555142_19.html 11th June 2008 The most common questions and the answers which have arisen over the past few years assist other cab drivers who may encounter similar taxi accounts questions. Entering the mileage covered by the taxi is optional as the cabsmart package automatically c... http://www.articlealley.com/article_549709_19.html 30th May 2008 The most common questions arising in installing accounting spreadfsheets generally involves understanding the way the spreadsheets have to be saved to avoid the linking structure between the bookkeeping sheets being broken. This problem is because a po... http://www.articlealley.com/article_548637_45.html 28th May 2008 The costs of goods, materials or services purchased by a business which are for private use are not allowable for tax purposes. The disallowed element also applies to goods and materials bought for business use which are subsequently used for private use.... http://www.articlealley.com/article_546620_19.html 25th May 2008 Allowable costs for tax purposes include the cost of goods bought for resale including the cost of raw materials and all costs of production after adjusting the cost of sales for changes to the opening and closing stock of stock including stores being hel... http://www.articlealley.com/article_545770_19.html 23rd May 2008