One of the acceptable methods to value stock is at the lower of cost and net realisable value (NRV). NRV is broadly defined as the estimated selling price of an asset less any disposal costs.
HMRC provides the following guidance in their Business
Literally, the word depreciation means a reduction in the value of an asset over time. It recognises the fact that if you buy assets for your business – cars, plant, computers etc – as time marches on the value of those assets will
Most of us fire-fight on a daily basis. We face distractions from multiple directions and basically have no time to surface from that activity to see what else may require our attention.
Any plans that we had for our day can be dashed by new
From 1 August 2020 onwards, it is intended that the shielding programme will be “paused” in England so clinically extremely vulnerable people will no longer be advised to shield. From an employment perspective, this means that, if they
You may have come across the terms debit and credit and perhaps wondered exactly what do they mean?
Certainly, if you are a bookkeeper or accountant you will or should understand their significance.
The first book on the subject was written by
1 July 2020 – Due date for Corporation Tax due for the year ended 30 September 2019.
6 July 2020 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs.
19 July 2020 – Pay Class 1A NICs (by the 22 July
If you are self-employed – this article does not apply to the directors and shareholders of limited companies – there is often a mis-match between the amount you draw from your business and your tax bill.
When times are good profits may
All businesses have customers, According to HMRC, even they have customers…
Sales are the amount of goods and services that you provide your customers and there are three main features that affect your annual turnover:
Number of
The government has announced that the scope of the Self-employment Income Support Scheme (SEISS) will be extended to help new parents. The newly announced measures are designed to help new parents whose trading profits dipped in 2018-19 because they
The option to defer your VAT payments ends on 30 June 2020. The Coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT liabilities between 20 March 2020 and 30 June 2020.
Businesses that took advantage of