Taxation is a critical aspect of running a business, and understanding its complexities is essential for limited company owners. Our comprehensive guide ‘Running a Limited Company: A practical guide for business owners’, provides a breakdown of key business tax considerations, including dividend tax, VAT, National Insurance Contributions (NICs), Corporation Tax, […]
Category Archives: Tax
01
Nov
Nov
Let’s delve into the fascinating realm of the UK tax treatment of Furnished Holiday Lets (FHLs). If you’ve ever dreamt of turning your cozy cottage or charming apartment into a holiday retreat, you’re in the right place. Here we will untangle the complexities of tax rules and discover how FHLs […]
26
Oct
Oct
With the UK Government being committed to ending the sale of new petrol and diesel vehicles by the end of 2035 the current tax regime for cars is naturally favourable for zero and low emission vehicles. A summary of the main low emission vehicle tax benefits is provided below. […]
19
Oct
Oct
The dictionary definition of “Gig Economy” or gig workers is “A way of working that is based on people having temporary jobs or doing separate pieces of work, each paid separately, rather than working for an employer.” Digital platforms are playing a big role in shaping this economy. As […]
16
Oct
Oct
Running a successful business involves fulfilling various obligations and effectively managing key aspects of your operations. In our comprehensive guide ‘Running a Limited Company: A practical guide for business owners’, we delve into the importance of registering with HMRC, managing your budget, understanding insurance options, and staying on top of […]
04
Sep
Sep
Increasingly more and more people are turning to YouTube and other social media platforms to supplement their existing income, or to start a new career. There are many considerations you need to make when moving into this field, such as what type of content will I create, or how do […]
30
Aug
Aug
The question is: Are ransom payments made by a business to access its IT systems tax deductible? Everyday more and more news reports highlight the threat ransomware and cyber terrorism impose on our institutions and businesses. Workplaces are increasingly dependent upon IT systems and infrastructure and data breaches have a […]
24
Jul
Jul
What are payments on account? If you are a self-assessment taxpayer, you may be familiar with the phrase ‘payments on account’ (POA). They help to spread the tax burden over the space of a year by requiring the taxpayer to make advance payments towards their tax bill. 31 July 2023 […]
27
Jun
Jun
National Insurance Contributions (NICs) are payable by almost every worker and employer throughout the UK. They are an important deduction from your salary as the amount of Class 1 NICs you’ve paid throughout your lifetime affects your rights to the state pension. Likewise, those who are self-employed need to pay […]
27
Mar
Mar
Most people are aware that if you get a company car as part of your employment, the car will create a taxable benefit in kind. The employer is probably not going to be able to recover any VAT on its purchase either because HMRC will usually view that it is […]