Practical, plain-English guidance on audit, tax, VAT, accounts and advisory — written by our chartered accountants.
1224 articles · page 11 of 102
Whistleblowing is when a worker reports certain types of wrongdoing, such as fraud, a breach of a legal obligation, a danger to health and safety or, since 6 April 2026 , sexual harassment, and…
Read articleAssurance is an independent accountant's conclusion, based on evidence, that increases the confidence users can place in information prepared by someone else. In UK standards an assurance…
Read articleA payslip is the written, itemised pay statement your employer must give you on or before each payday . Under section 8 of the Employment Rights Act 1996, it must show your gross pay , every…
Read articleThe net cash flow formula is: net cash flow = total cash received − total cash paid out over a period. Equivalently, it is closing cash − opening cash , or the sum of net cash from operating…
Read articleBusiness credit is a lender's or supplier's view of how safe it is to extend credit to your company. For most UK small and medium-sized businesses, that view comes from a commercial credit score…
Read articleUnpaid parental leave gives an employee up to 18 weeks' leave for each child , to be used before the child's 18th birthday . Under the default rules it is taken in whole weeks , with no more than…
Read articlePro rata is Latin for "in proportion". In UK pay and employment it means scaling a full-time figure down to the share of full-time hours or of the year that someone actually works. A job…
Read articleMTD for VAT (Making Tax Digital for VAT, sometimes searched as "make VAT digital") is HMRC's requirement that every VAT-registered business keeps its VAT records digitally and files its VAT…
Read articleRedundancy is a dismissal because the employer needs fewer people to do a particular kind of work, or no longer needs the work done at a particular place. An employee with 2 years' continuous…
Read articleUK employment law has no general statutory right called "compassionate leave". The term usually means paid or unpaid time off that an employer grants when someone close to an employee dies or is…
Read articleIFRS 17 Insurance Contracts sets out how insurance contracts are recognised, measured, presented and disclosed. It replaced IFRS 4 and has applied to annual reporting periods beginning on or after…
Read articleA fixed term contract is an employment contract that ends on a set date, when a specific task is finished, or when a specified event happens. Typical examples are maternity cover, a project role…
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