Blog

In the ever-evolving world of finance, the collaboration between accounting and finance is essential. BMC Introduction Accounting and finance are two interrelated fields that form

Finance is an integral part of our lives, shaping the way we invest, save, spend, and plan for the future. BMC Introduction Finance is the

Accounting is the backbone of every successful business BMC Introduction Accounting is often referred to as the “language of business,” and for a good reason.

Here are some general pieces of advice to consider when starting a business:   1. Identify a viable business idea: Choose a product or service

Income Tax ▪Personal Allowance £12,570 to be frozen until 2028. ▪ Higher rate threshold £50,270 to be frozen until 2028. ▪ The threshold for the

National Minimum Wage and National Living Wage rates 2018/2019 and Previous years Who gets the minimum wage Apprentices Not entitled to the minimum wage Work

Personal tax rates Personal Allowances and rates 2018/19 2019/20 Personal Allowance – The amount of tax-free income you have each tax year £11,850 £12,500 Income limit

The basis for recording the transaction There are two types of accounting       Accrual Basis Accounting       Cash Basis Accounting What

What is the goodwill? Definition of goodwill Goodwill is the difference between the value of a business as a whole, and the value of its

This notice explains whether the transfer of a business should be treated as a ‘transfer of a business as a going concern’ (TOGC) for VAT

You may be entitled to claim other types of capital allowances depending on the cost, type of asset, and qualifying conditions, such as: 100% allowance

Nowadays there are so many ways to raise funding for your small business beyond dipping into your savings. From tax incentive schemes to traditional bank

An error of commission An error of commission occurs when a transaction has been posted to the wrong account of the same ‘type’. Examples of

Absorption costing – focuses on the total cost of producing one unit of output, includes fixed production overheads in valuation cost of production. Account –

To format and open a limited company, you need to send us the following: 1- Business Name – (Do you want it Ltd or Limited?

In common with other professional services firms, we are required to identify and verify the identity of our clients, including any beneficial ownership, for the