PERSONAL TAX PART 2

Basic Rate bracket will now be extended to: £31,785 + (£960/ 0.8) = £32,985 Interest from ISA’s are not taxed Interest and dividends received will need to be grossed up Thomas will be entitled to the full personal allowance of £10,600, since his taxable income is less than £100,000 Totals Non-Investment Savings Dividends Capital Gains … Read More

PERSONAL TAX PART 1

Income tax is tax charged on income earned by individuals and it’s used by the government to run and maintain the state. The government tax year starts on 6th April to 5th April the following year, so we have just come to the end of 2015/16 tax year and started 2016/17 tax year. Tax year … Read More

Accounting for Deferred Tax arising due to Capital Allowances

IAS 12 Income Taxes defines deferred tax liabilities as the amounts of income taxes payable in future periods in respect of taxable temporary differences. Temporary differences are differences between the carrying amount of an asset or liability in the statement of financial position (balance sheet) and its valuation for tax purposes. These temporary differences arise … Read More

MANAGING YOUR FINANCES

It has always been an issue in many economies and the UK is not exempt from the fact that many individuals struggle with managing their finances and ensuring that their cash flows are managed adequately. One of the first issues to address will be the simple principle of self discipline. Self-discipline in being able to … Read More

The Importance of Work Experience in Securing a Job

When looking for a job in the accounting field the first question that most prospective employers will ask you ‘What previous experience do you have?’ Work experience is key, when trying to secure a job. It informs employers of what you have done in the past and how much knowledge you have in your field. … Read More

Communication Skills

In communicating you have to express your communication skills in writing or verbally at an interview. If you are asked- how do you cope or work under pressure? A scenario in your personal life or at work can come into play. Let’s take a personal encounter for example in this situation A person in final … Read More

Tips for Writing the Perfect CV

On average, recruiters will spend 20-30 seconds glancing over your CV, so you need to make sure that they will see that you are their dream candidate fast! Use these tips below to generate their interest and keep it long enough to call you for that interview:   § Overall Content. When a potential employer … Read More