Individuals under self assessment are expected to declare income they make during this financial year i.e. between 6 April to 5 April. Self-employed or untaxed income folk have to sign up with HMRC, pay back taxes and make a tax return. The paper returns, which are to be done on 31 October, and online submissions, which have to be done on 31…[Leer más]

All financial transactions will have effects on the accounting equation since at least two aspects are altered in the accounting equation such as assets, liabilities or equity. As an example, when a company takes a loan with a bank, asset (cash) and liabilities (loan payable) are increased. In the same way, when the company makes revenue, the…[Leer más]

Debt financing means a business takes on a loan or issues bonds to get the necessary funds for operations or expansion. This financing method allows companies to retain full control and ownership, but it adds to their liabilities. Interest payments are often tax-deductible, which can reduce the effective cost of borrowing. However, businesses must…[Leer más]

Employees receive their pay in different ways: by salary or by the hour. Earning the same amount each year, regardless of hours, is what sets salaried employees apart. Hourly employees are paid for every hour they work and they are frequently paid extra for overtime hours. With a salaried job, you typically have job security and good benefits, but…[Leer más]