VAT Flat Rate Scheme – Is It Worthwhile?
The VAT is a simplified scheme that can save work. Instead of working out the VAT that you need to pay over to HMRC by
Accounting, Tax & Business Blogs
Explore expert accounting, tax, bookkeeping, and business advice from across the UK. Get practical tips, financial insights, and the latest updates to help you manage your finances and grow your business.
How to Avoid Capital Gains Tax on Gifts? A Quick Guide
Wondering how to avoid capital gains tax on gifts? Read this quick post to learn how you can eliminate or reduce your CGT on gifts.
Tell HMRC That Your Company is Dormant
If your company is no longer trading and does not have any other income, you can tell HMRC that it is dormant. This will relieve
Using Your Annual Exempt Amount For 2021/22
All individuals are entitled to an annual exempt amount for capital gains tax purposes. Net gains (chargeable gains less allowable losses) for the tax year
What is MLM (Multi-Level Marketing)? A Beginner’s Guide
If you are wondering what is MLM or multi-level marketing you are in the right place. In today’s blog, we’ll dig deep into this business
Tax Relief for Pre-trading Expenses
There is a lot of preparation involved in setting up a business, and costs will be incurred, which may be substantial. Before it is able
Do I Need to Top up My Pension?
A full single tier state pension is payable to people who have 35 qualifying years. Individuals who have less than 35 qualifying years, but at
Gross Revenue vs Net Revenue: What’s the Difference?
Whatever income you make from your business sales falls under gross or net revenue, but both of them are distinct from each other. As a
Overlap Profits – What are They and When is Relief Given?
Under the current rules for determining which profits of an unincorporated business are taxed in a particular tax year, some profits may fall to be
How to Dissolve a Company? A Quick Guide
Many of our clients wonder how to dissolve a company cost-effectively without much hassle, the best way to do this is to dissolve or strike
Income from savings – What is tax-free
Not all types of income are equal from a tax perspective, and savings income enjoys dedicated allowances, tax rates and reliefs which allow a taxpayer
Struggling to Pay Tax – What Should You Do?
The January self-assessment payment deadline is not well timed, falling as it does in a month when people may be already struggling to pay their
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