Taxation is a topic that often leaves business owners scratching their heads, especially when it comes to choosing the right business structure. For many businesses and freelancers, the decision often boils down to being a [...]
Late payment of taxes has never been a situation businesses or individuals aim for, yet it's a reality that sometimes unfolds. Recently, the stakes have been raised as HMRC announced a significant increase in the [...]
The UK government has recently announced a significant extension to the deadline for voluntary national insurance contributions (NICs). The extension, until April 2025, aims to provide individuals with more time to assess the benefits of [...]
Tax time can often be a daunting period for many, but it's also an opportunity to potentially claim a refund for legitimate work-related expenses. The HMRC is urging taxpayers not to overlook this valuable chance. [...]
The deadline for self assessment taxpayers in the United Kingdom to submit their tax returns for the 2021/22 tax year was January 31st, 2023. According to HMRC, a new record was set as 11.7 million taxpayers [...]
If you are a VAT-registered business in the UK, you may have already received a warning from the HMRC about new VAT penalties. Here, we are taking a closer look at what these penalties are, when [...]
What is the most tax-efficient way to take remuneration out of your company? As a business owner, it's essential to consider the most tax-efficient method of taking money out of your business. Salary and dividends are [...]
Making tax digital is a part of the government’s tax administration strategy, helping to reduce the tax gap by: keeping digital records, using software that works with the making tax digital scheme (MTD) and, submitting [...]
Alphabet shares are a way of differentiating shares by using the letters of the alphabet e.g. ‘A’ shares, ‘B’ shares, ‘C’ shares etc. They allow companies to separate shareholders into groups so dividends can be [...]
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