What is Direct Debit?
Direct debit is a standard payment system in the United Kingdom in which customers grant authorization to retailers, organizations or third parties to take payments from their bank accounts. Authorization…
What is Pension Annual Allowance?
For tax purposes, the annual allowance is a cap or limit on the total amount of contributions that can be paid to defined contribution pension schemes and the overall amount…
What is Jobseeker’s Allowance?
The Jobseeker's Allowance (JSA) supports individuals who are unemployed or actively searching for employment. For those seeking full-time jobs, the allowance helps to reduce the costs of living. The benefit…
What is a Marginal tax rate?
A marginal tax rate, also known as the progressive tax rate, is the amount of tax rate that applies to a certain tax bracket of a taxpayer's income or other…
What is Equity Crowdfunding?
Equity crowdfunding (also defined as crowd-investing or investment crowdfunding) is a form of capital raising used by start-ups and unlisted companies (a company that is not listed on a stock…
What is Earned income?
Earned income is the total taxable compensation (e.g. wages or salaries) earned for work by an employee or the net income earned by a self-employed individual. In simple, earned income…
What is Taxable income?
Taxable income is the portion of an individual's or company's income used to determine how much tax an individual or organisation owes the government in a given tax year. Earned…
What is Wear and Tear Allowance
Wear and Tear is a deduction that landlords can claim to offset the cost of substituting moveable assets that have reached the end of their useful life. Wear and tear…
What are Financial Statements?
Financial statements are a collection of high-level reports that summarise an organization's financial performance, financial status, and cash flows. They're useful for a variety of reasons: Determine a company's ability…
What is Cash Flow?
The amount of money or cash equivalent that the company collects or distributes to creditors through payment(s) is known as cash flow. Cash flow analysis evaluates the company's liquidity situation.…