What is a Bad debt
Bad debt is a form of expense that is no longer considered collectable at the time of repayment by a customer. In other words, it's an irrecoverable bad debt. Bad…
What is Accounting
Accounting can be described as the “language of business.” As we know that human memory is limited and we cannot store endless information. So, accounting takes the charge of maintaining…
What is Higher Rate tax
The income tax is a progressive tax, which ensures that the rate increases as the taxable amount increases. Depending on where you live in the UK, the tax rates, tax…
What is Corporation tax
Corporation tax is a tax payable on limited liability corporations and other groups' taxable income, including societies, clubs, unions, and unincorporated entities. A corporate tax is levied on a company's…