A dollar invoice that shrinks on paper without any discount or dispute can baffle SME owners at year end. This article unpacks how IAS 21 and FRS 102 Section 30 require foreign currency transactions to be recorded at the spot rate and then retranslated, walking through a worked $50,000 example, the monetary versus non-monetary distinction, and the tax implications of exchange gains and losses.
R&D tax relief can put real cash back into an SME, but only if you understand which scheme applies and how to record it correctly. This guide breaks down qualifying costs, the merged scheme, ERIS, and a worked £200,000 example with journal entries.
Choosing between salary and dividends is not a rounding error for director-shareholders. This guide walks through a real £50,000 worked example, showing how a small salary topped up with dividends can put nearly £4,000 more in your pocket than a salary-only approach, with no change to company performance.
Understanding the Annual Investment Allowance can save SME owners thousands in corporation tax simply by timing equipment purchases correctly. This guide breaks down how AIA works, what qualifies, and how to claim the full deduction in the right accounting period.
