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...
by ClearwaysAccountants | Aug 27, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice
Real Time Information, Retained Reserves and Resolutions Real Time Information (RTI) HMRC introduced RTI payroll reporting on 6 April 2013. All companies were originally required to report their payroll numbers on-line to HMRC on or before paying their employees. ...
by ClearwaysAccountants | Aug 23, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice
Quarterly Reporting, Quick Ratio, Quick Assets Quarterly reporting VAT is generally reported quarterly with different companies allocated to different staggers. The staggers are: January, April, July and October February, May, August and November March, June,...
by ClearwaysAccountants | Aug 22, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Self Employment, Small business advice
Payroll (PAYE), Profits and P11D Payroll (PAYE) If you trade through your own Limited company you will probably be an employee of your own company. Since 6 April 2013 payroll reporting to HMRC should be completed each month as part of the Real-Time Information...
by ClearwaysAccountants | Aug 21, 2013 | A-Z of tax and accounting terms, Contractor, Freelancer, Pay, Expenses & Benefits, Self Employment, Small business advice
Outputs and Overnight Expenses Outputs Part of the terminology relating to VAT. Outputs are your sales and inputs are your purchases. When you complete your VAT return your sales will be included in box 6 (excluding VAT) the VAT on your sales will be included in box...
