NEWS

The UK’s economy grew by 0.6% between April and June, continuing its recovery from the recession at the end of last year. This growth aligns with forecasts and follows a 0.7% increase in the first three months of this year.Growth was driven by the services sector, particularly the IT industry, legal services, and scientific research. […]

The Bank of England cut interest rates to 5% in its August meeting,following seven consecutive holds at 5.25%. This change in interest rates affects mortgage, credit card, and savings rates for millions across the UK. Despite this being the first rate drop since March 2020, borrowing costs remain high.Understanding Interest RatesInterest rates indicate the cost

Real estate has long been a popular choice for investment in the United Kingdom due to its potential for substantial returns and the stability it can offer in a diversified portfolio. However, investing in real estate requires more than just property acquisition; it also involves sound accounting practices. In this blog, we’ll explore essential accounting

Taxes are a necessary part of running a small business in the United Kingdom, but they can be complex and often lead to costly mistakes if not managed correctly. Whether you’re a sole trader, a limited company, or a partnership, avoiding tax pitfalls is crucial for your financial well-being and the success of your business.

Starting and running a business involves numerous risks, from potential lawsuits to unforeseen disasters. Business insurance is a vital tool for protecting your enterprise against these risks and ensuring its long-term sustainability. But with various insurance options available, how do you determine what business insurance you truly need? In this comprehensive guide, we’ll break down

Value Added Tax (VAT) is a consumption tax levied on the value added to goods and services at each stage of production or distribution. In the United Kingdom, businesses with a certain level of turnover are required to register for VAT and report their VAT transactions regularly. One option for managing VAT is the Annual

Becoming self-employed in the United Kingdom is an exciting venture that offers independence and flexibility.Whether you’re starting a freelance gig, launching your own business, or working as a sole trader, registering as self-employed is a necessary step for legal and tax purposes. In this comprehensive guide, we’ll walk you through the process of registering as

Accurate and efficient payroll processes not only ensure that your employees are paid correctly and on time but also help you comply with legal and tax obligations. In this blog post, we’ll explore the best practices for organizing payroll in the UK to streamline your operations and keep your business in good standing.Register Your Business with

Running a limited company in the UK comes with various financial benefits, one of which is the ability to take dividends as part of your income. Dividends are a way for business owners and shareholders to extract profits from the company. However, it’s important to understand the rules and procedures involved in taking dividends as

In the realm of financial accounting, a variety of terms and concepts come into play, each contributing to the accuracy and transparency of a company’s financial statements. One such concept is the “contra asset account.” In this blog post, we’ll delve into the world of contra asset accounts, explaining what they are, how they work,