01737 244298 info@clearwaysaccountants.co.uk
Clearways Accountants
  • Home
  • About
  • Why Us?
  • Packages
  • Reviews
  • Guides & Advice
  • Blog
  • Trusted Partners
  • Contact
Select Page

A-Z of Tax and Accounting terms: X, Y and Z are for…

by ClearwaysAccountants | Oct 3, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice

(E)xempt Supplies, Year End, Zero Rated Supplies (E)xempt supplies Not really X!  X is really tricky!!! See the  A-Z blog: E is for… for information on exempt supplies. Year end This the end of the period for which your accountant will draw up your accounts and...

A-Z of Tax and Accounting terms: W is for…

by ClearwaysAccountants | Sep 27, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice

Wear and Rear Allowance and Wages Wear and tear allowance Income from furnished lettings is part of the taxpayer’s rental business. Generally the same rules apply as for other lettings.  But where a taxpayer lets a residential property furnished, capital...

A-Z of Tax and Accounting terms: V is for…

by ClearwaysAccountants | Sep 23, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice

Value Added Tax (VAT) and Venture Capital Trusts Value Added Tax VAT or sales tax applies to almost all goods and services and the majority are subject to VAT at 20% (the standard rate).  Some sales (or supplies in the jargon) are exempt from VAT.  See our earlier...

A-Z of Tax and Accounting terms: U is for…

by ClearwaysAccountants | Aug 30, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice

Unlimited Liability, UK GAAP and Universal Credit Unlimited liability A business with no limit on the liability of the owners.  If you are trading as self-employed (sole trader) or as a partnership your liability, should anything go wrong, is unlimited.  Consequently...

A-Z of Tax and Accounting terms: T is for…

by ClearwaysAccountants | Aug 29, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice

Turnover, Temporary Workplace, Trial Balance Turnover Another word for sales.  If you are VAT registered the turnover will be recorded in your accounts net of VAT. Temporary workplace This is an important piece of tax legislation for employees.  If you are travelling...

A-Z of Tax and Accounting terms: S is for…

by ClearwaysAccountants | Aug 28, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice

Self-assessment, Standard Rated Supplies and Self Employment Self-assessment When HMRC brought in on-line filing of income tax and corporation tax returns they also expected individuals and companies to self-assess the tax that was due to HMRC.  Therefore there are...
« Older Entries

Recent Posts

  • Spring Statement 2022
  • VAT deferral – pay by instalments
  • Budget 2021: COVID recovery and beyond…
  • Contractors: Free Tax Calculator 2020-21
  • COVID-19 Furlough Scheme (CJRS) – November 2020 to January 2021

Categories

  • A-Z of tax and accounting terms
  • Budgets and Autumn statements
  • Business tax
  • Capital taxes
  • Clearways News
  • Client case studies
  • Contractor
  • COVID-19 Business Support
  • Freelancer
  • IR35
  • Landlords
  • Pay, Expenses & Benefits
  • Pension planning
  • Personal tax
  • Self Employment
  • Setting up a Business
  • Small business advice
  • Tax Calculators
  • Tax planning
  • Tax Tips
  • VAT

Copyright © 2022 Clearways Accountants|Privacy & Cookie Policy|Another fruitful creation from Orchard Marketing Associates