accounting tips Archives - BS Associates Blog

UK Tax on NRE and NRO Account Interest: Technical Guidance for UK Resident Individuals

Leave a Comment / accounting tips / BS Associate Team

UK resident individuals with Indian bank accounts, including NRE and NRO accounts, are subject to UK tax on overseas interest under the UK’s worldwide taxation system. However, the final tax outcome depends on whether the arising basis or remittance basis applies, how the UK India tax treaty operates, and whether offshore funds are later transferred […]

UK Tax on NRE and NRO Account Interest: Technical Guidance for UK Resident Individuals Read More »

Lifetime ISA Explained: Why You Should Open One Before Age 40

For many individuals across the UK, particularly those aged 18 to 39, there is a valuable financial planning opportunity that is frequently missed not because it is complex, but because the deadline is poorly understood. The Lifetime ISA (LISA) is a government-backed savings and investment vehicle designed to support first-time buyers and long-term retirement planning. However, it comes with a strict age condition that

Lifetime ISA Explained: Why You Should Open One Before Age 40 Read More »

Payroll in the UK: Regular Payroll vs Tronc Payroll – A Complete Guide for Employers

Leave a Comment / accounting tips, Business Tax, Tax Save Tips / BS Associate Team

What is Payroll and How Does It Work in the UK? Payroll is the process that ensures your employees are paid accurately and on time. But it’s much more than just issuing wages. In the UK, payroll involves calculating salaries, deducting PAYE income tax, managing National Insurance Contributions (NICs), and reporting everything to HMRC. Here’s

Payroll in the UK: Regular Payroll vs Tronc Payroll – A Complete Guide for Employers Read More »

Digital Sales Tax Compliance in the UK: 7 Costly Mistakes to Avoid in 2025

Leave a Comment / accounting tips, Business Tax, VAT / BS Associate Team

Selling goods or digital services online has never been easier — but with new tax rules coming into effect in 2024 and beyond, staying compliant has become more important than ever. One major development is the Digital Services Tax (DST), which HMRC describes as a 2% tax on the revenues of large search engines, social

Digital Sales Tax Compliance in the UK: 7 Costly Mistakes to Avoid in 2025 Read More »

Get your self assessment tax return (SATR) done in these holidays: Avoid the Last-Minute Rush

Leave a Comment / accounting tips, Business Tax, HMRC News / BS Associate Team

The holiday season is upon us! As we prepare for Christmas 2024 and the excitement of New Year 2025, there’s no better time to get your Self Assessment wrapped up in time for Christmas. Completing your Self-Assessment Tax Return (SATR) early not only saves you stress later but ensures you can enjoy the holidays without

Get your self assessment tax return (SATR) done in these holidays: Avoid the Last-Minute Rush Read More »

Forensic Accounting and Advisory Services: Brayan & Spencer Associates

Leave a Comment / accounting tips / BS Associate Team

Forensic accounting combines accounting expertise with investigative techniques to detect and analyze financial crimes such as fraud, embezzlement, and money laundering. Forensic accountants specialize in tracing funds, identifying hidden assets, and assisting with asset recovery. They also conduct thorough due diligence reviews and provide clear, detailed reports for legal purposes. Forensic accounting plays a crucial

Forensic Accounting and Advisory Services: Brayan & Spencer Associates Read More »