A business is required to register for VAT, if they match one of the compulsory registration criteria. It is also possible to register with turnover
An accrual is income earned or expenses incurred that haven’t yet been received or paid. In accounting, it ensures financial records reflect actual business activities,
The UK tax year for 2025/2026 runs from 6 April 2025 to 5 April 2026. If you’re self-employed or running a creative business, this is
For many creative professionals, profit and cash seem like the same thing. After all, if you’re making money, that means you have money, right? Not
So, you’re looking into different allowances and government schemes, and you run into employment allowance. What is employment allowance? In simple terms: Employment Allowance is
When becoming VAT-registered, there are different methods you can adopt for working out your VAT. Each come with their advantages and disadvantages. Two of the
Like anything, you normally only look at the bottom line. How much does the dreaded Taxman want from me this time? But have you ever
Management accounts are financial reports produced for the business owners and managers. The reports help them track their company’s performance. The management accounts typically include
Reverse Charge VAT is a tax rule that shifts the responsibility of reporting VAT from the supplier to the buyer. When a business sells goods
KPIs, or Key Performance Indicators, are clear measurements that show how a business is doing. They help you track progress in different areas: But what
