Individuals have a separate tax-free allowance for capital gains tax purposes – the capital gains tax annual exempt amount. Although it has been reduced considerably
If you are the owner of a personal or family company, it is prudent to review your dividend strategy before the 2024/25 tax year comes
If you’re doing business with another company or simply curious, knowing whether they are VAT registered can be essential. In the UK, companies with an
Starting and running a limited company in the UK involves several financial responsibilities, including filing annual accounts, managing payroll, and staying compliant with HMRC. If
Rental income can be a great source of additional income, but it also comes with tax responsibilities. Fortunately, there are several legitimate ways to reduce
One of the more unpopular Budget announcements was the rise in employer’s National Insurance from 13.8% to 15% from 6 April 2025. The Class 1A
Tax due under Self Assessment for 2023/24 should have been paid in full by midnight on 31 January 2025, along with the first payment on
Corporation Tax on Chargeable Gains, often referred to as Corporate Gains Tax, is a critical aspect of corporate taxation in the UK. Businesses that dispose
If you have changed your name due to marriage, divorce, or any other reason, it is essential to update your records with HMRC to ensure
Receiving a tax refund from HM Revenue & Customs (HMRC) can be a pleasant surprise, but many people wonder how they will get their money
Where an employee has more than one job, they may be able to defer the payment of Class 1 National Insurance contributions in one or
Filing annual accounts is a crucial responsibility for limited companies in the UK. It ensures compliance with both HMRC and Companies House regulations. Here’s a
As the cost of living crisis continues to bite, you may find that come 31 January 2025 you are struggling to pay your Self Assessment
Benefits in kind (BIK) are goods and services provided to an employee (or a member of their family or household) for free or at significantly
For many years the most tax-efficient method of withdrawing monies from a company by a sole director/owner has been to take salary up to the
Purchasing a commercial property at auction is a common occurrence. Although usually the sale or lease of a commercial property is exempt from VAT, sometimes
The payment of National Insurance contributions is linked to entitlement to the state pension. If sufficient National Insurance contributions of the right type are paid
Selling a rental property in the UK often incurs Capital Gains Tax (CGT). Here’s a breakdown to help you understand: 1. What is Capital Gains
Being self employed in the UK comes with a range of benefits, including flexible working arrangements. However, it’s essential to understand how much you can
Self assessment tax return is a crucial aspect of the UK tax system that ensures individuals and businesses accurately report their income and pay the
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