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sole trader tax

Do you know there are around 3.5 million sole traders in the UK which makes 59% of the UK’s private sector business

Using 'Bounce Bank Loan' to Pay Dividends

Open until 31 March 2021, the Governments’ Bounce Back Loan Scheme (BBLS) helped support businesses during the coronavirus pandemic, permitting firms to

No matter whether you’re a small business owner or a large one, you need to manage your bookkeeping and accounting processes properly

define reasonable care

All taxpayers have a responsibility to complete their tax returns correctly, to the best of their ability. However, inevitably, mistakes occur which

what is a limited company

Many business owners set up a limited company without knowing ‘what is a limited company?’ This business structure is legally separate from

VAT Security Deposit

The vast majority of businesses pay their tax bills on time however, any that are finding it hard to make payment in

What are Statutory Accounts

If you’re a limited company owner in the UK, you are legally responsible to file statutory accounts on annual basis. As a

furnished holiday lets

All business must start at some point, and a furnished holiday lettings (FHLs) business is no exception. Unlike other rental properties, furnished

Turnover vs Profit

Turnover and profit are the most commonly used words in the business world. But what do they indicate? How they are different?

Capital Gain on the Sale of an Investment Property

If you sell a property that has not been your main residence throughout the period that you have owned it, you may

Gifting Property to the Children

No one likes the idea of the taxman taking a chunk of their estate when they die, particularly if it will be

Mileage Payments to Employees

As the country emerges from the Covid-19 pandemic, business travel is once again on the agenda. Where employees undertake business travel, they

Do I Need to Register for VAT

You must register your business for VAT if your VAT taxable turnover exceeds the registration threshold. This is currently £85,000. You must

Pension Annual Allowance

Tax relief is available to encourage individuals to make contributions to registered private pension plans. However, while there is no limit to

what is business turnover

Do you know what is turnover and how to work out your Business Turnover? In this article, you will be able to

Tax Debts Post Covid-19

During the Covid-19 pandemic, HMRC paused much of their tax collection work, both to allow resources to be diverted to other activities,

Articles of association

According to the Companies Act 2006, all private companies in the UK must have the constitutional documents: articles of association, memorandum of

What is Job Seekers Allowance

Wondering what is Job Seekers Allowance? Jobseeker’s Allowance (JSA) is a taxable benefit for people who are not working full-time (works below

RTI Penalties

Under real time information (RTI), employers are required to report pay and deductions information to HMRC ‘at or before’ the time that

SDLT Multiple Dwellings Relief

Multiple dwellings relief’ (MDR) allows a rate to be charged at the percentage payable on the ‘average value’ price (referred to as

securing investment for business

Starting a new business is a dream for many, but few people take the plunge to make it happen. In the beginning,

Types of business

Before jumping into the business world, you need to understand the different types of business and choose one that suits you. There

How to register a business

After deciding to start your business! You might wonder “How to register a business”. As it is the first step before starting

Limited Liability Partnerships

A limited liability partnership (LLP) is not a partnership but a body corporate with a difference – there are no shareholders or guarantors (as