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.
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…
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…
HM Revenue and Customs (HMRC) use the Self Assessment system to collect income tax. While the idea of submitting a tax return can be daunting, Self Assessment is normally more straightforward than it seems (once you get past the terminology). Who needs to complete a Self Assessment tax return? In most cases, anyone who…
Making Tax Digital (MTD) is with us now, and whilst change can be daunting, non-compliance is worse! But don’t worry; once you make the move to online tax it’ll free-up time in your business to do what you do best. So, let’s take a look at the state of play with MTD and what it…
Bridging software allows businesses to link their financial records to HMRC in a way which complies with Making Tax Digital rules. Quite literally, it ‘bridges’ gap between non-compatible records and HMRC so that tax information can still be shared. What are the Making Tax Digital rules? Making Tax Digital, or MTD for short, was…
