In the great tradition of government-speak, HMRC and companies house have come up with the same acronym for different things, both of which can apply to the same small business.

PSC – According to HMRC

This means Personal Service Company. What is this?

This is usually a one-person company providing professional services to clients. Think IT contractor invoicing a bank for working on an IT project. Or marketing expert taken on to advise on expansion into a new area.

Dear Sajid Javid

Following your ambition to simplify the tax system and as we approach your 1^st Budget, may I pass on a few things that will make a difference to business’ actual experience of the tax system.

Focussed On Brexit?

What About The Tax Year End Only 1 Week Later?

With all the understandable concerns about the effect of Brexit on business, it’s easy to forget other things, such as the tax year ends only 1 week later.

At least we have some control as to what we might do before the tax year end!

Are there some basic accountancy words you don't quite understand? Would you like to know a bit more to help understand your figures and your accountant?

Here's a handy initial list of 4 words to start you off: