How to Calculate Your Business Profits

calculating business profit

When you are self employed the amount of tax you pay is based on your business profits. It means that you only pay tax on what you truly earn because you will inevitably have costs you need to pay for to be set up as a self employed individual. How Do I Work Out My … Read more

What is a Profit & Loss Account?

What is a profit & Loss account

The Profit & Loss account is a statement which shows the profit or loss of the business. It also includes a financial summary of how this has occurred. It usually tracks one year of performance but will include last years figures for a comparison to be drawn. The significance of a profit & loss account for freelancers, … Read more

Different Types of Accountants and What They Do

Different types of accountants and what they do

Accountants are always in demand, whether business is good or bad. But not all accountants are the same. Here are some of the different accounting roles and an insight into what each do day-to-day. Auditor Some companies require an audit. Commonly if they have lending that specifies an audit or have a turnover over £10.2m. … Read more

What is Amortisation? Definition and Example

what is amortisation

Looking to learn more about amortisation? Read on to find out the definition of amortisation in accounting, examples of how you calculate it and which types of assets are amortised.

Why are Accountants so Expensive?

Why are Accountants so Expensive?

If you have an accountant already or you are searching for an accountant for the first time, this may help you understand why you may have received what feels like some eye watering quotes.