Author's articles

Avoid UK Tax Problems By Knowing What Business Expenses Are Disallowed

By Terry Cartwright · 16 years ago

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 ...

DIY Accounting Payroll Software Questions And Answers

By Terry Cartwright · 16 years ago

HMRC will advise the new tax code change from 543 to 603 which was announced in May 2008 and the date the new tax code to be applied which is expected to be September 2008. ...

Lower Tax Bills And Bookkeeping For Small Business

By Terry Cartwright · 16 years ago

Tax authorities are often relaxed about the need for small business to prepare and produce formal accounting records. Often the requirement is simply that each business retains sufficient financial records to support the accounts submitted. ...

The Credit Crisis Is Fueled By Fuel Prices

By Terry Cartwright · 16 years ago

The threat of recession and economic disaster facing many areas of business, its effect on employment and income levels, personal debt and security of homes is solvable. If the root cause is not addressed then ...

Business Tax Reform In The UK Introduces Annual Investment Allowance

By Terry Cartwright · 16 years ago

When a business buys a long term fixed asset it is normal to depreciate that capital asset over a number of years to smooth out the effect on net profit. Depreciation being a management decision ...

How To Set A Sales Price For Your Product Or Service

By Terry Cartwright · 16 years ago

Fixing the selling price can be based upon a value basis or a cost plus basis with either basis subject to modification according to market conditions. Not exactly scientific and true in all cases but ...

Registration And Accounting For Value Added Tax

By Terry Cartwright · 16 years ago

Vat registration and the threshold plus accounting for value added tax and submitting the quarterly vat tax return online is essential knowledge. When a business registers for vat it becomes responsible for charging vat at ...

Personal Qualities Required To Be An Entrepreneur And Start Your Own Business

By Terry Cartwright · 16 years ago

Small business and especially a new start up business is dependent upon the personal qualities and abilities of the small business entrepreneur few have all the business attributes and it need not be a problem. ...

Filling The Self Assessment Tax Return Detailed Profit And Loss Account

By Terry Cartwright · 16 years ago

Businesses whose turnover has exceeded 15,000 pounds are required to show greater analysis of the income and expenditure. From a practical point of view even those businesses who expect the turnover to be less than ...

Self Employment Registration And The Self Assessment Tax Return Form

By Terry Cartwright · 16 years ago

There is no strict definition of self employment as opposed to not being self employed however the basic rule is if you have income other than is taxed under the paye system then you may ...

Self Assessment Tax Return Form And Capital Tax Allowances

By Terry Cartwright · 16 years ago

While a potential difficult area for the non accountant capital allowances reduce the net tax payable. The difficulty in this section of the tax return form is that it is an area which many start ...

Payroll Software Reduces The Paye Administration

By Terry Cartwright · 16 years ago

Every employer has a legal responsibility to operate a paye scheme for its employees with regular payslips a P60 end of year certificate and a P45 showing details of gross pay and income tax deducted ...

Practical Tax Tips and Hints UK

By Terry Cartwright · 17 years ago

What is self employment? In essence anyone who is in business either as a sole trader or part of a partnership and receives income that is not taxed under the payroll system is self employed. ...