A key date in any company calendar is the business tax deadline. Knowing when to file business taxes is not only important for ensuring you meet your tax obligations, it can also help with tax planning. For a small business, when to file taxes is one of the most important dates in the business year....
Business tax credits are government incentives designed to support companies of all sizes while encouraging particular behaviours, strategies or investments. They take various forms, including exemptions, allowances, and reliefs, but a common element is they reduce a company’s tax liability. Busin...
If you’ve worked for years growing your business, there may come a time when you want to step back and sell it to someone else. This can be a moment to enjoy the rewards of your endeavour over the years. However, selling a business does come with tax implications you ought to be aware of. [&hellip...
Ensuring your records are accurate and you pay the correct amount of tax is an essential requirement of running a business. Every business and individual registered for self-assessment in the UK is issued with an identifying number to facilitate timely tax reporting. But what is a business tax ID nu...
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...
Mileage allowance relief is a valuable business tax relief that can help you save thousands of pounds every year. It allows you and your employees to deduct costs incurred during business travel. This valuable business mileage tax relief helps companies cover their travel costs while supportin...
Inheritance tax is applied to estates that have a total value over the current threshold. For the 2023/24 financial year, that basic threshold is £325,000, and everything above that value taxed at 40 per cent. With rising property prices, more estates are now liable for inheritance tax. If you own ...
Becoming as tax efficient as possible should be a high priority for every business owner. Whatever the size of your operation, or its annual turnover, tax efficiency can free up extra resources to grow and develop your business. Working towards greater tax efficiency will have a positive impact, ena...