Category Archives: Uncategorised

What is Goodwill?

According to the dictionary goodwill is: 1. a feeling of benevolence, approval, and kindly interest 2. (modifier) resulting from, showing, or designed to show goodwill: the government sent a goodwill mission toMoscow. 3. willingness or acquiescence 4. (Accounting & Book-keeping) accounting an intangible asset taken into account in assessing the value of anenterprise and reflecting…
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Filing documents with Companies House

In the not too distant past, if you filed a set of accounts for a registered company with Companies House this usually involved sending the required documents using the postal system. Inevitably, this involved a certain amount of delay: initially, for the package to find its way from your location to Companies House, and then…
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Recurring income

If you are in business you either buy (manufacture) or sell goods, or you deliver a service based on your personal skills. If you buy or sell goods there is no reason to believe that once you have achieved a sale to a particular person of business, they will return to buy again. Unless, what…
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Update on the VAT reverse charge for building contractors

From 1 October 2019, contractors who employ subcontractors, will need to assume responsibility for declaring and paying the VAT that was previously settled by their VAT registered subcontractors. From this date, registered subcontractors will no longer add VAT to their invoices and main contractors will pay this net of VAT amount. Now the challenging part.…
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