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.
Taxes can be tricky to navigate, can’t they? As a self-employed business, keeping track of all your tax reporting deadlines is just one of the many crucial things you need to remember. No matter how busy you are though, missing the deadline to submit your tax return and pay the bill is best avoided (along…
Your Unique Taxpayer Reference number (UTR) is a 10-digit number you’ll receive after registering for Self Assessment or setting up your own limited company. Starting a new business is an exciting time, but can also mean lots of information flying about that you need to keep track of. Hidden within the onslaught of letters and…
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…
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…
