When a limited company is referred to as being ‘bankrupt’, it means it can’t pay its debts on time, or its liabilities exceed its assets. However, the accurate term is company insolvency. As it is a commonly used term, we will use ‘company bankruptcy’ in parts throughout this arti...
In the UK, VAT numbers are processed and issued by HMRC (or HM Revenue & Customs) which is the national authority on revenue and customs. Upon registration, businesses can start actively trading in the UK, and can begin charging VAT when selling products (if applicable). The UK offers 3 ...
Explain how business protection works Identify some challenges over transfer of shares Explain HMRC's interestCPD Approx.30min (tehcheesiong/Envato Elements) Gregor Sked As we approach the summer months, it is a timely opportunity to reflect on the year to date and trends we are seeing from ad...
The term ‘trading profits’ refers to the revenue you’ve generated through trading; the taxable part is the bit left over after you’ve deducted costs, such as raw materials, staff wages etc. ‘Capital gains’ refers to any money you’ve made through selling company assets, which hasn’...
An SPV, or Special Purpose Vehicle, is a distinct legal entity created with the specific business purpose of isolating financial risks. With their own legal status and financial standing, they can operate independently even if the parent company faces financial distress. An SPV primarily manages spe...
What is a VAT bridging loan? A VAT loan is not to be confused with VAT bridging loans. Although the two forms of borrowing sound the same, there are some important differences. Rather than referring to quarterly VAT returns owed to HMRC, VAT bridging loans are used to help businesses pay...
1. Decide whether selling shares is right for you Selling shares can have an impact on your long-term investment strategy, so it’s not a decision you should take lightly. Nor is it recommended to sell shares based on a short-term dip in performance, or based on emotions such as panic...
Turnover is calculated over a specific period of time, usually a quarter or financial year. And because it only considers income generated through your main trading activities, turnover doesn't take into account things like bank interest or money received from the sale of assets. Financial turn...
As withother investment accounts, managing self-invested personal pension fees is important. Individuals should see whether a SIPP charges a fixed annual fee, a percentage of the portfolio value, trading commissions, or other fees before opening an account. ...
Facing similar charges in France, Google paid French authorities nearly 1 billion euros (about $1.1 billion) in fines and additional taxes in 2019. The company said at the time, "We remain convinced that a coordinated reform of the international tax system is the best way to provide a clear...