Economies of scale

Economies of scale

The success of a company is closely connected to its growth. Economies of scale describe the effects that an increase in input has on output. That is, more should come out than you put in! But what are economies of scale exactly, and what forms do they come in?

Accounts receivable accounting

What is accounts receivable accounting?

If you run a business or work independently, it’s always important for you to keep an eye on your financial situation. This also applies to payments that you are expecting but have not yet received. The accounts receivable department is responsible for registering and tracking your monetary receivables. We explain what accounts receivable accounting is and how it works.

ISO 45001

ISO 45001: information on the ISO standard for occupational health and safety at work

If you want to show that your own company is committed to safety and healthcare management, you probably have done so until 2018 in the form of the OHSAS 18001 certificate. Since 2018, ISO 45001, the official successor, has been in place. Among other things, it explicitly requires management boards to take appropriate action and for external interest groups to be involved in the management...

Input tax: sales tax made simple

Input tax: claiming tax rebates through tax deduction

Complicated tax regulations can be a minefield, causing confusion for entrepreneurs year after year. But it’s worth being fully aware of tax legislation within the United Kingdom; you could be entitled to a refund for the VAT spent on business operations. But how does this essential part of the tax law work? In this handy guide, we explain the concept of input tax and value added tax (VAT), as...

Non-profit accounting | what needs to be considered?

What are non-profit organisations?

When it comes to accounting, no two charities or non-profit organisations are the same. The amount of income made dictates which forms need to be filled out to complete the tax return. It can be confusing knowing which forms to fill out, but our article will explain how accounting for non-profit organisations works, with numerous non-profit accounting software available to facilitate the process.

Reverse charge mechanism

Reverse charge – the shift in tax liability easily explained + example

Many US-based entrepreneurs are still puzzled by the reverse charge. The procedure is all about transferring tax liability from the service providers to respective beneficiaries. In other words, the latter must settle the payment of taxes with the tax office. This is said to have saved time and prevented frauds in the past. What must be considered, and who is directly involved? Read on for an...

Types of taxes in the UK

Taxation and the different types of taxes in the UK

Keeping track of taxes in the UK isn’t exactly a piece of cake. There are so many types of taxes that it’s difficult to know which ones apply to you and/or your business. If you don’t file your taxes correctly with the HMRC, it could result in penalties, which could cost you dearly. This article gives you an introduction to the main types of taxes in England, Scotland, Wales, and Northern Ireland...

Maximum working hours for employees

Maximum working hours for employees

In the UK, employees shouldn’t work more than 48 hours a week, but you can voluntarily decide to opt out of this and work extra hours. But what exactly counts as working hours? This article explains all about the maximum working hours so make sure you’re not unknowingly doing too many hours.

Accounts payable accounting

Accounts payable: The most important aspects at a glance

Accounts payable accounting is the part of financial accounting of a company that deals with vendors and is therefore the counterpart to accounts receivable accounting, which handles customers and money owed to the company. The invoices that vendors issue to a company go to the company’s accounts payable department. There the invoices are checked, prepared for payment at the right time and posted....

Making Tax Digital

Making Tax Digital (MTD)

In April 2019, the HMRC launched the Making Tax Digital (MTD) scheme. This digital way of completing tax returns aims to reduce tax mistakes whilst establishing an efficient real-time record keeping process. However, what exactly does this mean for your business and how will it affect your VAT returns? Find out the key facts in this handy guide on MTD for VAT.

Grow Your Business

A solid business growth strategy is paramount for any business owner. This category focuses on all the aspects that follow the establishment of a company; from business strategy and growth, to recruitment, bookkeeping, and taxes.


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