FAQs

faqs

Most Popular Questions

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Why do Anyone Need a Bookkeeper?

Having a qualified Bookkeeper can be extremely helpful to small and medium business, simply because bookkeeping can be a daunting, difficult and a time consuming task, that could distract the owners from performing their core business duties.

Are Tax software any good? will they serve my purpose?

Softwares that are designed to help with Taxes can only be helpful, if they are configured right, the data is filled in correctly and timely, otherwise they can be a cause of false security leading to mishandling tax tasks. .

Are Tax requirements of the Limited Company and Self-Employed are same?

Limited Company is a business type. In this type of setup the company has its own legal identity, separate from the people who owns it (shareholders) or company’s directors. The fact remains unchanged even if its run by a single person, who ownsall the shares of the firm.

Self-Employment means working for One’s own self. The Self-Employeed person will invoice the clients and the clients pay them directly. Self-Employeed people are personally responsible for their own Net Income and submitting Tax Returns.

What is a Corporation Tax?

Corporation Tax is a liability payable by the corporations based on their profit in a Tax year. The Tax rate could vary based on the amount of profit earned by the said corporation

What do you mean by Payroll?

In simple terms, payroll can be defined as the process of paying a company's employees. It includes collecting the list of employees to be paid, tracking the hours worked, calculating the employee's pay, distributing the salary on time, and recording the payroll expense.

What is HR & Payroll?

An HR Payroll Software is beneficial for any kind of business enterprise. Human Resource departmentperforms various activities such as payroll processing, maintaining salary details of every employee in the organization, keeping track of deductions, time and attendance, loans, allowances, and bonuses.

What are Year End Accounts?

A year end refers to the end of a company's financial year. As such, the year-end accounts are a summary of a company's performance across the financial year, and will typically include a directors' report, balance sheet, profit and loss statement and explanatory notes.

What is a VAT Return?

A VAT Return calculates how much VAT a company should pay to or be reimbursed by HM Revenue and Customs (HMRC). ... A VAT Return calculates how much VAT you owe HMRC (or how much they owe you) by looking at: Your total sales and purchases across a three-month accounting period. The amount of VAT you owe for sales.