Running a small business in the UK can you both exciting and challenging. In the middle of the hustle of managing daily operations, marketing your
Up to certain limits, it is possible to enjoy some savings income tax-free. The extent to which this is possible depends on the rate at
For 2024/25 and later tax years, unless they elect otherwise, unincorporated businesses must prepare their accounts and calculate their taxable profit using the cash basis.
The deadline for filing your 2023/24 Self Assessment tax return online is 31 January 2025. An earlier deadline of 30 December 2024 applies if you
Corporation tax is a tax on the profits of limited companies and other organizations, including clubs, societies, associations, and other unincorporated bodies. Here’s an overview
The nil rate band is the amount that a person may leave free of inheritance tax. Each person has their own nil rate band, which
Efficient tax management is critical for both businesses and individuals and communicating with HM Revenue and Customs (HMRC) is an important component of this. Logging
HMRC have revealed that every year lots of simple errors are made in tax returns in relation to capital gains tax which result in the
Choosing between operating as a sole trader or forming a limited company is a critical decision for any entrepreneur. Each business structure has its own
Furnished holiday lettings (FHLs) enjoy tax advantages not available to landlords letting residential property on long-term lets. The advantages are particularly beneficial when it comes
The tax implications of a Director’s Loan Account in the UK can be significant and require careful consideration to ensure compliance with HM Revenue and
Partnerships exist in either ordinary format or as limited liability partnerships (LLP). An ordinary partnership is legally defined by the Partnership Act 1890 and is
Landlords letting residential property are not entitled to a deduction for the cost of the domestic items that they provide in the property. They are
The VAT registration threshold rose from £85,000 to £90,000 from 1 April 2024. The deregistration threshold increased from £83,000 to £88,000 from the same date.
HM Revenue and Customs (HMRC) self-assessment login is an essential tool for individuals and businesses in the United Kingdom to manage their tax affairs efficiently.
A taxable company car benefit arises where an employee has the private use of a company car. Unless the car is an electric car, a
If you are registered for VAT, you will need to keep normal business records. The records must be complete, up to date and sufficient to
If you run your business as a personal or family company, you will need to extract your profits in order to use them personally outside
In the dynamic business landscape of Hounslow, Pro-taxman stands out as a beacon of excellence in accounting and tax advisory services. Specializing in helping small
VAT can be confusing at the best of times, with the reverse charge being arguably one of the more complex applications. It does not help
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