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Calculate VAT amounts easily
Calculate your take-home pay
Find the current UK financial week
Calculate your property purchase tax
Calculate company tax with marginal relief
Calculate tax on company dividends
Calculate CGT on property, shares or a business
Estimate IHT on an estate using current bands
Stay up to date with the latest accounting and business insights from IAK Accountants.
Corporation tax is the tax a UK limited company pays on its profits. This guide explains the rates, how the bill is worked out, marginal relief, deadlines, allowable expenses and how to keep the bill down legally. A plain English guide from IAK Accountants.
Payments on account are advance Self Assessment payments made in two instalments on 31 January and 31 July. Here is how they are worked out, who has to pay them, how to reduce them safely and what to do if you cannot afford one. A plain English guide from IAK Accountants.
What a director's loan account is, the rules for taking money out, the s455 tax charge on an overdrawn account (now 35.75%) and how to stay on the right side of HMRC. A plain English guide from IAK Accountants.
VAT explained for UK business owners: what value added tax is, how it works, the current rates and £90,000 threshold, input vs output VAT, VAT numbers, and when you have to register.
Amortisation explained for UK businesses: how it spreads the cost of intangible assets, how it differs from depreciation, the FRS 102 rules, worked examples, and the separate loan meaning.
What a dividend is, how dividends work, and the UK dividend tax rates and allowance for 2026/27. Includes a worked example and the rules companies must follow, from IAK Accountants.
A clear UK guide to goodwill in accounting. We explain what goodwill is, how to calculate it, why it only appears when one business buys another, how it sits on the balance sheet, the difference between amortisation under FRS 102 and impairment under IFRS, what negative goodwill means, and how goodwill is treated for corporation tax.
A clear UK guide to invoices. We explain what an invoice is, what every invoice must show, what an invoice number is for, how an invoice differs from a receipt, a bill, a quote and a proforma invoice, the VAT invoice rules HMRC expects, and how an invoice lands in your accounts.
A clear UK guide to credit notes. We explain what a credit note is, when to issue one, how it differs from an invoice, a refund and a debit note, the VAT rules HMRC expects you to follow, and how to record it in your books.
A plain English UK guide to the P11D form. We explain what a P11D is, which benefits in kind go on it, the 6 July 2026 deadline, Class 1A National Insurance, the penalties for filing late, and why 2025/26 is the last normal P11D year before payrolling becomes compulsory.
A plain English UK guide to sole trader vs limited company. We compare tax, liability, admin, privacy and credibility, show when incorporating actually pays off, and explain how to change from sole trader to limited company.
A clear UK guide to the trial balance: what it is, why bookkeepers prepare one, the debit and credit format, a full worked example, the errors it will and will not catch, and how a suspense account is used when it does not balance.
Double entry bookkeeping explained in plain English: the accounting equation it rests on, the rules for debits and credits, the five account types, T-accounts and the trial balance, plus several worked examples showing how every transaction is recorded twice.
EBITDA explained in plain English for UK business owners: what the acronym stands for, the formula, a worked example, how to calculate it from your accounts, what EBITDA margin and adjusted EBITDA mean, and where the figure helps and where it quietly misleads.
Net profit margin in plain English for UK businesses: the formula, a worked example, how it differs from gross and operating margin, what a healthy net margin actually looks like by sector, and why a thin net margin is a warning even when sales are growing.
Gross margin in plain English for UK businesses: the formula, how it differs from gross profit, the markup versus margin trap that wrecks pricing, a worked example, and what a healthy gross margin actually looks like by industry.
Management accounting explained for UK business owners: what it is, how it differs from financial accounting, what goes into a set of management accounts, and why monthly numbers beat year-end ones for running a business.
The UK tax year 2026/27 runs from 6 April 2026 to 5 April 2027. Here are the tax year dates, Self Assessment deadlines, and the rates and allowances that apply.
Overheads explained for UK business owners: what counts as an overhead, how they differ from direct costs, fixed versus variable overheads, a worked example, how to calculate an overhead rate, and practical ways to cut them.
Retained earnings explained for UK company directors: what they are, the formula, a worked example, why they are not the same as cash, and the legal reason they decide how much dividend you can take.
The cash flow statement explained for UK business owners: the three sections, a worked example, the difference between the direct and indirect method, and why profit and cash are never the same number.
Net income is one of the most overloaded terms in finance. It means take-home pay for a person, profit after everything for a company, and something different again to HMRC. This guide untangles all three, with formulas, a worked example, and how net income differs from gross income.
What fixed costs and variable costs really are, with clear examples, where semi-variable costs fit, why rent is usually fixed but not always, and how the split between the two decides your break-even point and how risky your business is.
Gross profit, operating profit and net profit explained in plain English, with a worked example down the profit and loss account, what sits in each gap, and why a healthy gross margin can still end in a net loss.
Fixed assets explained for UK business owners: a clear definition, tangible vs intangible, fixed vs current assets, real examples, how they sit on the balance sheet, why land does not depreciate, and the asset register most small firms ignore.
Working capital explained for UK business owners: the formula, a worked example, the working capital cycle, why a profitable business can still run out of cash, and how to free up trapped money.
Accruals and prepayments explained for UK business owners: what they are, the difference between them, worked examples with journal entries, where they sit on the balance sheet, and how the accruals basis differs from cash accounting.
A clear UK guide to the balance sheet: the accounting equation, fixed and current assets, current and long-term liabilities, equity, net assets, a worked example, and what the numbers actually tell you.
A plain English UK tax guide for influencers and content creators: when your income becomes taxable, why gifted products count, allowable expenses, VAT, and the platform data HMRC now receives.
Depreciation explained in plain English for UK businesses: methods, worked examples, why land does not depreciate, and how it differs from HMRC capital allowances.
Trade receivables explained for UK businesses: definition, examples, balance sheet treatment, days outstanding formula, and how to manage late payers.
How to handle bookkeeping, tax, and VAT for UK websites earning through display ads. Practical guidance from IAK Accountants for site owners and developers.
What bookkeeping is, what a bookkeeper does day to day, single-entry vs double-entry explained with a worked example, the records HMRC requires you to keep, and how a bookkeeper differs from an accountant.
Discover the tax advantages and lifestyle benefits of relocating to Cyprus. Learn about the non-dom regime, corporate tax rates, and quality of life improvements.
Understand directors remuneration in the UK: what it includes (salary, dividends, benefits), tax implications (PAYE, NI, CT), and disclosure rules. Explained by IAK Accountants.
Learn how to value a business using common methods like asset-based, market-based, and income-based approaches. Detailed guide by IAK Accountants.
Explore pathways to becoming a qualified accountant in the UK without a university degree. Learn about AAT, apprenticeships, and professional bodies with IAK Accountants.
Sales Revenue = Units Sold x Price Per Unit. Learn how to calculate sales revenue with worked UK examples, the gross vs net difference, and the VAT mistake to avoid.
Understand the difference and similarities between turnover and revenue in UK accounting terminology. Clear explanation by IAK Accountants.
What are trade payables and how do they differ from accounts payable and accruals? A plain English guide for UK businesses, with the creditor days formula and a worked example.
Learn how to calculate percentage uncertainty, understand its importance in business and science, and see practical examples. Comprehensive guide by IAK Accountants.
What revenue means in business: the top line of your profit and loss, gross vs net revenue, the six main types, and when revenue is recognised under UK accounting rules.