Alexander Ene

##IMAGE_HERE## The revenue recognition principle is a cornerstone of accrual accounting together with the matching principle. They both determine the accounting period in which revenues and expenses are recognized. According to the principle, revenues are recognized when they are realized or realizable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received. In cash accounting - in contrast - revenues are recognized when cash is received no matter when goods or services are sold. Cash can be received in an earlier or later period than obligations are met (when goods or services are delivered) and related revenues are recognized that results in the following two types of accounts: Revenue realized during an accounting period is included in the income. The Critical-Event Approach: IFRS provides five criteria for identifying the critical event for recognizing revenue on the sale of goods: The first two criteria mentioned above are referre...

Alexander Ene offers top-tier tax accounting services designed to meet the diverse needs of clients in London. As a cornerstone of our comprehensive financial solutions, our tax accountants in north London are committed to delivering precise, reliable, and confidential services, ensuring clients navigate the complexities of tax regulations effectively. With a proactive approach to financial guidance and a dedication to innovative solutions, Alexander Ene helps individuals and businesses optimize their tax positions and enhance their overall financial health. The firm’s holistic approach ensures that every client receives personalized support tailored to their unique circumstances and financial goals. MAIN FEATURES OF OUR SERVICES Serves London with financial expertise Dedicated client support system Proactive, innovative financial solutions Comprehensive financial health focus Reliable, precise, confidential service HOW CAN WE HELP? At Alexander Ene, we understand how dauntin...

In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is a measure of the profitability of a venture. It is an entity's income minus cost of goods sold, expenses (e.g., SG&A), depreciation and amortization, interest, and taxes for an accounting period. It is computed as the residual of all revenues and gains over all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. It is different from the gross income, which only deducts the cost of goods sold. For households and individuals, net income refers to the (gross) income minus taxes and other deductions (e.g., mandatory pension contributions). It is usually the basis to calculate how much income tax is owed. Net income can be distributed among holders of common stock as a dividend or held by the firm as an addition to retained earnings. As...

Are you an employer looking to register for PAYE? Look no further! This article will guide you through the simple steps for PAYE registration. Whether you're just starting your business or expanding your workforce, understanding the process of registering for PAYE is essential. We will break down the steps for you in a clear and concise manner, ensuring that you have all the information you need to navigate this process effortlessly. So let's get started on your journey to becoming a registered employer! Steps for PAYE Registration If you're a business owner in the UK, registering for PAYE (Pay As You Earn) is an essential step in ensuring that your employees' taxes are deducted correctly and that you meet your legal obligations as an employer. This comprehensive guide will walk you through the process of PAYE registration, step by step. Check if you need to register Before you dive into the registration process, it's important to determine whether you actually need...

Alexander Ene provides exceptional accounting services tailored for clients in London looking for accountants near me. We offer comprehensive financial solutions and dedicated client support. As a beacon of reliability, precision, and trustworthiness, our firm empowers businesses and individuals with proactive financial guidance and innovative solutions designed to foster holistic financial health. Whether you’re seeking meticulous tax advice, expert bookkeeping, or strategic financial planning, Alexander Ene stands ready to assist with a robust offering of accounting services near you , aimed at optimizing financial operations and achieving sustainable growth. OUR MAIN FEATURES Serves London financial needs Proactive and innovative guidance Reliable, precise services Dedicated client support Holistic financial health solutions HOW CAN WE HELP At Alexander Ene, we’re dedicated to offering top-notch accounting services near you, where we serve a diverse clientele. Whether you’...

For those who run a business, It is vital for you to maintain accurate records all year round . Any kind of uncertifyable expenditure will probably wind up being queried, if officers of HM Revenue & Customs comes to check out your tax return . As a rule, the small business proprietor should keep every one of his / her invoices, cancelled cheques, business bank details, as well as credit card records. Paid invoices as well as statements are usually verification of what a business spent money on as well as the particular date of acquisition. The credit card and bank account transactions, along with the void cheque stubs are proof of actual payments. Most small business accountants will say that it is essential for the small business owner to have a place to manage files and also get properly organised by way of keeping files organised on a regular basis. Inland Revenue has specific regulations for fixed assets that can be used for private purposes. There are items that can be used ...

Alexander Ene, accountants, has been providing specialized accounting services for IT contractors in Golders Green since 1999. Our firm prides itself on its reliability, accuracy, and specialized knowledge in the tech industry. Using the latest accounting software and technologies, we ensure efficiency and accuracy in our services, enhancing clients’ experience. We offer comprehensive financial health checks tailored to the needs of IT contractors and have a unique pricing model that sets us apart. Our team of highly qualified professionals is committed to providing top-notch services, making us a trusted firm of accountants for IT contractors in Golders Green. OUR MAIN FEATURES “Reliable Financial Expertise since 1999” “Comprehensive Financial Health Checks Offered” “Cutting-edge Accounting for Efficiency” “Innovative Pricing for Client Satisfaction” “Specialized IT Contractor Accounting Services” Making Your Numbers Work Harder, Smarter! Let’s partner up today and let us t...

If you are an entrepreneur, self-employed or work from your home you know that keeping accounting records can be a daunting task. This is especially so if you are one of those that generally put it off until the end of the year. In this article, we provide suggestions on how to keep accounting records for any business. 1. Create a dumping basket for invoices and receipts Have a bin in a central location where you can just dump all those receipts, invoices, bank statements , cheque stubs, paying in books and anything else to do with accounting and bookkeeping for your business. Here you will put all those accounting records that you need in order to prepare your accounts and tax return. These will include petty cash expenses, notes and anything that you need to get to that you don't need to do right away but you know you would want to look at in the next couple of weeks. You can put in that bin each and every document related to your business and know that you'll be looking at ...

Have you ever found yourself wondering about the intricacies of emergency tax refunds in the UK? The topic might feel challenging at first, but unravelling how long it takes and what options are available can actually be empowering. Understanding the ins and outs of emergency tax refunds will help you know what to expect and how to navigate this often confusing aspect of financial management. Here, you’ll find a friendly guide on the workings, timelines, and steps involved in emergency tax refunds in the UK. What is an Emergency Tax Refund? An emergency tax refund occurs when you've been taxed more than you should have been, often due to a mistake or change in your tax circumstances. This could happen if you've switched jobs, gone from part-time to full-time employment, started a new job after being unemployed, or even if you've stopped working altogether. Essentially, if the tax code assigned to you doesn't align with your actual situation, you might be overpaying tax,...

If you find yourself working from home for all or part of the week, you may be eligible to claim tax relief for additional household costs. This can include expenses related to your work, such as business phone calls or gas and electricity used in your work area. However, it's important to note that you cannot claim tax relief if you choose to work from home or if your employment contract allows you to work from home. The amount you can claim varies depending on your circumstances, and you may need to provide evidence such as receipts or bills. In this comprehensive article, we will discuss how you can claim tax relief for your job expenses . Take advantage of this opportunity to potentially reduce your tax burden and make the most of your job expenses. Working from home If you have to work from home for all or part of the week, you may be eligible to claim tax relief for additional household costs. This can apply if your job requires you to live far away from your office or if yo...

At Alexander Ene, we specialize in providing expert capital gains tax service, ensuring our clients maximize their savings and comply with all relevant regulations. With over 25 years of experience, our team of chartered certified accountants uses cutting-edge technology to offer precise and reliable guidance. Whether you’re selling property, shares, or other valuable assets, we’re committed to helping you understand your tax obligations and explore every avenue to minimize your liability. Our transparent pricing and fixed fee quotes mean you can trust us to handle your financial needs without any unexpected costs. OUR MAIN FEATURES 25 Years Expertise Fixed Fee, No Surprises Advanced Accounting Technology Serves London Area Trusted Certified Accountants Guiding Your Numbers, Securing Your Success HOW CAN WE HELP? At Alexander Ene, we recognize how steering through capital gains tax can be complex and overwhelming. Serving London, we’re here to offer our expertise to guarante...

Ever found yourself looking at your payslip, puzzled by those seemingly arbitrary numbers and letters that form your tax code? Understanding your UK tax code is crucial as it directly impacts how much Income Tax you pay, yet many people find it confusing. Let’s take a friendly walk through the world of UK tax codes to help you grasp what they mean, how they work, and what actions you might need to take if there's a change. What Your Tax Code Means Decoding the Basics Your tax code isn't just a random string of characters—it’s actually a straightforward way for the tax authorities to inform your employer or pension provider how much tax to deduct from your income. Essentially, it determines how much of your income is tax-free and how much is taxable, which can affect your overall take-home pay. Breaking Down Tax Codes: Numbers and Letters When you see the numbers and letters in your tax code, they each have specific meanings. For example, the current standard tax code for most ...

Have you ever wondered how you can prove your tax residence status in the United Kingdom? Understanding how to apply for a Certificate of Tax Residency in the UK can be a valuable process for anyone with ties to more than one country, whether through personal or business ventures. It's a straightforward process, but there are key steps and considerations you need to be aware of to ensure a smooth application.   Introduction to the Certificate of Tax Residency Before diving into the application process, it's crucial to understand what a Certificate of Tax Residency (CTR) is and why you might need one. This certificate is essentially a document issued by HM Revenue and Customs (HMRC) to confirm your status as a tax resident in the UK. It helps in situations where you have income or gains from another country, ensuring that you benefit from any tax treaties the UK has with those countries. This could potentially reduce your tax liabilities abroad. Why You Might Need a CTR A certif...