What is Taxable Turnover?

Jordan Macey

September 3, 2021

What is Taxable Turnover? guide
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Small Business Accounting

Taxable turnover is the turnover on which the seller is liable to pay tax.

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How do I reduce corporation tax? Guide

How do I reduce corporation tax?

You can reduce your corporation tax bill by:

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What are Tangible Assets? Guide

What are Tangible Assets?

Tangible assets are physical assets or property owned by a company, such as equipment, buildings, and inventory.

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What are Invoice numbers? Guide

What are Invoice numbers?

An invoice number is a unique number that is assigned to each invoice. This number is one of the most important elements of every invoice. Its role is to identify transactions, so it needs to be unique. Invoice number can contain only numbers or letters and numbers. It may contain date of issue, name of project or task.

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What are Credit Notes? Guide

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A credit note is a document that a business issues to its customers. It is used whenever an invoice needs to be changed and re-issued, such as when a customer changes or cancels an order, or is charged an incorrect amount.

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What are Debtors? Guide

What are Debtors?

The term ‘debtor' refers to an individual or company that owes money, or is in debt to an individual or organisation. An example would be a customer that has purchased a product or service from your business. In the balance sheet, debtors are listed under the current assets section.

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What is a Company Tax Return, CT600? Guide

What is a Company Tax Return, CT600?

All active limited companies in the UK are required to file a company tax return, otherwise known as the CT600 form.

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What are Authorised Agents?

Through the agent authorisation process, a client is able to authorise an agent to deal with HMRC on their behalf. Further information is available on the HMRC website.

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What are Supplier References? Guide

What are Supplier References?

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What are Aged Creditors?

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What is Statutory Paternity Pay?

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What are Assets?

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When is my company tax return due?

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How do I pay Corporation Tax? Guide

How do I pay Corporation Tax?

There are various ways you can make your corporation tax payment:

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What is Statutory Maternity Pay?

Statutory Paternity Pay is the amount of money that must by law be paid to the mother of a new baby while she is away from her job.

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What is the Accounting Reference Date? Guide

What is the Accounting Reference Date?

The Accounting Reference Date (ARD) is the date on which a company's financial year ends, and when it has to submit its annual accounts.

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Your Balance Sheet and Profit & Loss explained Guide

Your Balance Sheet and Profit & Loss explained

For small business owners and contractors who have just started out, staying on top of your business finances and documents can be daunting.

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What is a Profit & Loss Account?

The profit and loss account (P&L) is a financial report that shows the revenue, expenses and profit or loss of your company over a specific accounting period.

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What are Current Assets? Guide

What are Current Assets?

Current assets are assets that are convertible to cash in less than a year.

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What is an Annual Return?

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