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Nov
25
taxUnderstanding the art of Effective Tax Planning
Functioning as a good and responsible citizen of the nation comes with many obligations, out of which paying taxes is one. Nobody just wants to bestow a major chunk of their money to taxes; neither can one escape the taxes. So what is the solution? Effective Tax Planning is the answer to all this fuss.
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Nov
03
taxImportance of Tax Planning for the uncertain times in the near future
Since the beginning of 2020, the world is battling the pandemic on various fronts. The impact of the COVID-19 wave is not limited to just adverse health issues. Nations around the globe are witnessing undesirable economic repercussions. The government authorities are under tremendous pressure to bring the economic scenario of their country on track. Tax
Oct
27
taxTax-deductible Expenses available to Self-Employed Tax Payers in the UK
One of the principal aspects of the tax calculation of any entity is to know its taxable income. The process of estimation of taxable income involves two essential elements- total earnings and allowable expenses. Operating a business requires spending on multiple forms of expenditures. Every business entity needs to have a meticulous comprehension of all
Oct
19
taxThe relevance of Working Tax Credit for in the residents of the UK
A sizeable chunk of the global populace does not have the means and capabilities to reasonably maintain their needs. Around the world, many earners do not earn sufficiently to support their families. Numerous Government authorities, intending to lower the burden of such low-income groups, launch different support payment schemes. The UK government also has its
Oct
12
taxDeclaration of a rise in the Self-Assessment “Time to Pay” Threshold for UK Taxpayers
Time and time again, the UK government is trying to reduce its citizens’ burden and induce better economic growth. Combatting the atrocities of the COVID-19 pandemic has been immensely arduous. Since the month of March 2020, numerous schemes have come our way as a relief measure. There were a series of significant announcements from Chancellor
Oct
08
accountingEffective Planning to Manage Workload during Peak Time!
There is an adage, which many business management personnel uphold throughout “Failing to Plan is equivalent to Planning to Fail.” Despite its scale of operations, nature of the business, or location, every successful business entity knows the worth of proper planning. In nearly every part of the business functioning, certain planning element is required. The
Sep
29
government announcementExtended Time for Repayment of Bounce Back Loans under UK’s Pay as You Grow Scheme
The UK government has made another stride to strengthen the British economy’s footing after the COVID-19 crisis. In the address to the House of Commons on September 24, 2020, the Chancellor of the Exchequer made some important announcements. Mr. Rishi Sunak announced some additional relief moves to further help struggling business entities and avoid job
Sep
24
outsourced accountingWhy is Outsourced Bookkeeping better than hiring full-time in-house bookkeepers?
There persists a long debate between which service option a firm should choose. Should you select Hiring Outsourced bookkeeping services or using in-house Bookkeeping? The question can put many accountants in a perplexing state. There were barely any hi-tech technological innovations such as the Internet and cloud computing in the bygone times. Business firms made
Sep
21
taxUK introduces Temporary VAT Cuts for the Tourism and Hospitality Industry
The Tourism and Hospitality sectors stand as the worst affected business segments on a global scale due to the COVID-19 Pandemic. As a measure to contain the infection, Governments in most countries closed their borders, and even domestic travel came to a halt due to lockdowns. Also, restaurants and hotels were bound to stay closed.