Tax might be inevitable, but it’s also pretty confusing at times. Find out how and when you need to pay tax in your business, what tax relief and allowances are available, and discover tips and advice to help you keep good financial records quickly and easily.
Don’t you hate it when you’re in the middle of doing something, only to discover you missed a step and now there’s another thing you need to sort out first? Like making a cake, and then realising you forgot to put the oven on to warm up. It’s not the end of the world, but…
If you’re about to submit a Self Assessment or you’re still fairly new to it, then you might stumble across ‘payments on account’. These are basically advance payments that you make towards your self-employed tax bill, but not everyone needs to make them. To help you plan ahead and manage your cash flow, we explain…
As the saying sort of goes, paying tax is pretty much inevitable, whether you’re employed, self-employed, or earning money from a side hustle or as a landlord. The money you earn from an employer is usually taxed at source, which means that your employer deducts the right amount of tax and National Insurance on your…
Some employers provide perks, known as Benefits in Kind (BiKs), to employees and directors that aren’t part of their salary, such as: Company cars used for private trips Non-business entertainment Assets bought by the company that are for private use Private health insurance Gifts which are given as a result of the employee’s performance…
Ah, Corporation Tax, the unavoidable pain in the wallet. But what’s it all about? How much is it and when do you have to pay? If you’re looking to start a limited company, we thought we’d give you a quick insight into the main points around Corporation Tax so you can be armed with the…
