Payments on account
Advance instalments towards next year's Self Assessment bill, based on this year's. The reason a first tax bill is bigger than expected.
Business A to Z
Every trade has words it uses without explaining. In business the cost of not knowing one is real: some of them are ordinary jargon and some of them are a decision that can take a house.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
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46 terms filed under P, showing 11–20 (page 2 of 5).
P
Payments on account for companies
Larger companies pay corporation tax quarterly rather than nine months after the year end.
Payroll
Paying people correctly and reporting it in real time. Deadlines are monthly and automatic.
Performance management
Managing how well someone does the job, and the process if it is not good enough.
Personal budgets and direct payments in care
Local authority money paid to a person to arrange their own care.
Personal credit and business borrowing
Why lenders look at the director personally, and what that means.
Personal guarantee
Also called PG, Director's guarantee
A promise to pay the company's debt from your own money if the company cannot. It survives the company.
Personalisation
Tailoring what a customer sees to what you know about them.
Petty cash
A small float of cash for small purchases. A control weakness in miniature.
Phishing
Also called Business email compromise, Invoice fraud, Social engineering
Tricking someone into handing over access or money by pretending to be somebody they trust. The most common way small businesses lose money to crime.
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