Business Rates Net Internal Area (NIA)

The net internal area (NIA) is the total usable area of each floor within a building, measured to the inside face of the boundary walls (ignoring skirting boards).

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Business Rates Measuring Methods

There are normally three key measuring methods used to establish a properties business rates. These are Zoning, Net Internal Area and Gross Internal Area.

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Definition of a Subsidiary

A company is defined as a “subsidiary” of another company, if it is controlled by a 'holding', or parent company as defined in the Companies Act 2006

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Definition of a Community Interest Company (CIC)

What is the definition of a Community Interest Company (CIC) and how do they differ to Registered Charities or Social Enterprises?

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Definition of a Sole Trader for Accounting Purposes

A simple definition of a sole trader is someone who runs their own business as an individual earning in excess of £1,000 a year.

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An auditor is a person who makes an independent report to a company’s members as to whether the company has prepared its financial statements in accordance with regulations.

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Audit Exemptions for Subsidiary Companies

A subsidiary maybe able to claim exemption from audit if its parent is established under the law of a European Ecconomic Area state.

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Community Interest Company (CICs) Filed Accounts

Community Interest Companies or CICs are no different from other companies when it comes to preparing and filing accounts.

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Partnership Filed Accounts

Regulations require that the members of a ‘qualifying partnership’ who are limited companies must attach their own accounts for filing with Companies House.

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Dormant Company Filed Accounts

Dormant companies may not need to file accounts if they have had no ‘significant accounting transactions’ during the accounting period.

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Definition of a Small Group of Companies

To qualify as small, a group of companies must meet at least two out of three conditions based on turnover, balance sheet and number of employees.

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Filed Account Exemptions for Medium-Sized Companies

Medium sized companies may be able to claim certain exemptions when they file their accounts. Such as the disclosure of some key performance indicators.

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