If you’re running a business in the UK, you need to ensure you understand and meet all of your tax obligations – such as knowing what taxes business owners need to pay. As a general rule, the larger your business, the more complex your tax affairs are likely to be. That said, even smaller bu...
If you run a business, you’re likely to be already aware there is a wide range of tax-deductible business expenses. Understanding deductible business expenses for taxes is essential if you want to maximise your deductions and reduce your overall tax liability. While not all expenses qualify for ta...
If you’re in business in the UK, then it’s essential that you have a firm grasp on your tax obligations. This is crucial not only for financial planning, but also ensures that you are fully compliant with HM Revenue & Customs (HMRC) regulations. The amount of tax a business pays will depend ...
The rules and requirements around income tax rates and personal allowances can appear complex and are liable to change. Keeping abreast of income tax personal allowances is essential to ensure you are meeting your tax obligations while at the same time maximising your personal income. What is income...
Anyone operating a business in the UK needs to be aware of the range of different tax obligations that can apply to their activities – such as capital gains tax. Capital Gains Tax (CGT) is one example, and it directly concerns the sale or disposal of any business assets. When a business sells ...
What is the personal pension tax relief and how is it applied? Ensuring you have enough money to live comfortably in retirement can be challenging. Personal pensions are a key part of retirement planning for most people and can enable individuals to build up substantial pension pots for later life. ...
What are the key differences between self-employed vs limited company tax, and which is best for you? One of the key decisions faced by anyone setting up a business is whether to operate as a self-employed individual or to set up a limited company. Each structure has its own particular advantages an...
Unincorporated associations are a common form of organisation for clubs, societies, and small groups in the UK. When it comes to taxation, the rules around unincorporated associated can be complex. When involved with the financial or organisational aspects of an unincorporated association, you must ...
In this essential guide, we define corporation tax relief and identify the types of business tax relief available to help reduce your liabilities. What is corporation tax relief? Corporation tax relief refers to the deductions or exemptions that are available to businesses to reduce their taxable pr...
When you start a small business, there are a host of things you need to think about. While your tax responsibilities might not be at the forefront of your mind, it’s important to fully understand what they are. When does a small business have to pay tax in the UK, and is small business tax [&helli...