Taxation Archives

Small Business Tax Guide: Key Tips for Accurate Filing in 2025

Are you confident your tax filing is accurate and complete? For many entrepreneurs, business tax for small business can feel overwhelming especially as tax rules, thresholds, and allowances change almost every year. From understanding which taxes apply to your business to keeping up with policy updates and filing deadlines, staying compliant requires careful planning. This […]

Small Business Tax Guide: Key Tips for Accurate Filing in 2025 Read More »

DWP XB Meaning, Eligibility & Payment Explained

Accountants, accounting services, blog, tax Saving tips, Taxation / Eve

As Christmas is approaching, many people must be wondering about the DWP XB meaning. This blog will help you understand this entry on your bank statement. Because every year, around this time, you must have noticed terms like DWP XB payment or simply this code DWP XB. DWP stands for the Department for Work and

DWP XB Meaning, Eligibility & Payment Explained Read More »

Christmas Party Tax Deductible: Your Complete Guide for UK Businesses

Accountants, blog, Taxation / Eve

Are you planning a Christmas party for your office staff and wondering whether the Christmas party tax deductible or not? No worries. Understanding when a Christmas party is tax-deductible can help you enjoy the occasion without worrying about unexpected tax bills. HMRC provides clear guidance on what counts as a tax-deductible Christmas party, including limits,

Christmas Party Tax Deductible: Your Complete Guide for UK Businesses Read More »

Is State Pension Paid In Arrears? | Ultimate Guide

Accountants, Taxation / Eve

If you receive the State Pension or are approaching pension age, you might wonder, Is State Pension paid in arrears? Well, it’s completely normal to question whether it can be paid in advance or has to be paid in arrears. This question pops up a lot, especially when payment dates shift or when the DWP

Is State Pension Paid In Arrears? | Ultimate Guide Read More »

What is BR Tax Code – A Complete Guide!

Leave a Comment / Taxation / Mubashir

Ever looked at your payslip and thought, What is BR tax code? Why am I on it? BR code is short for “Basic Rate” and applies when your income is taxed at 20% without the benefit of a personal allowance. This happens when you are either starting a new job or have multiple sources of

What is BR Tax Code – A Complete Guide! Read More »

What Is a Tax Gross Up for Payroll?

Leave a Comment / payroll and paye, Taxation / Mubashir

In the intricate world of payroll management, few concepts spark as much curiosity and, at times, confusion as the idea of a Tax Gross up. While payroll professionals encounter it routinely, many employees remain unaware of its practical implications. Understanding grossed up taxes is essential for both employers and employees to navigate compensation packages effectively,

What Is a Tax Gross Up for Payroll? Read More »

2025 UK Tax Code Changes Explained: What Small Business Owners Need to Know

Accountants, accounting services, Tax Issues, Taxation / Eve

Want to learn about UK tax code changes? Minor adjustments can impact your take-home pay, business expenditures and overall cash flow. The 2025/26 tax year in the UK has introduced different tax codes and policies that are implemented and can prove beneficial for businesses. These thresholds and compliance rules are necessary to avoid tax mistakes

2025 UK Tax Code Changes Explained: What Small Business Owners Need to Know Read More »

What are the Tax Brackets UK?

Tax Issues, Taxation / Mubashir

Let’s dive into the intro of our discussion about tax brackets in the UK. Tax brackets are an essential part of the tax system, as they determine how much tax individuals or businesses need to pay based on their income or profits. In the UK, we have different tax brackets with corresponding tax rates. The

What are the Tax Brackets UK? Read More »

Entrepreneurs’ Tax Relief – A Basic Guide

Leave a Comment / Tax Issues, tax Saving tips, Taxation / Mubashir

Wondering what an entrepreneur’s tax relief is? While establishing a new business, you might face a lot of problems. Being an entrepreneur, you always struggle to minimise your expenses and maximise your earnings. Entrepreneurs’ Tax Relief is there to reduce your capital gains tax (CGT). When you are selling your business or a part of

Entrepreneurs’ Tax Relief – A Basic Guide Read More »

Property Income Allowance (PIA): Everything You Need to Know

Leave a Comment / Landlord, Taxation / Mubashir

Property income allowance is a tax-free allowance on the income earned from building, land or property. It came into effect on April 6, 2017. It is a relief given to property owners on their rental income. If you are joint owners, then each one of you can claim this allowance. Curious to know more, read

Property Income Allowance (PIA): Everything You Need to Know Read More »

Can I Pay Taxes With Credit Card?

Leave a Comment / Personal tax, Tax Issues, Taxation / Mubashir

Wondering can I pay taxes with credit card? The quick answer is no, not with the personal credit card, but you can pay with the debit or corporate credit card as EU legislation has prohibited HMRC from recharging relevant fees back to customers in 2018. So from 2018 onwards, you can enjoy a toll-free use of

Can I Pay Taxes With Credit Card? Read More »

How Long Does a Tax Investigation Take?

Leave a Comment / HMRC, Tax Issues, Taxation / Mubashir

You may trigger a tax investigation from HMRC if you don’t pay taxes on time, there’s a significant error in your tax returns that need correction or you are involved in tax avoidance and evasion. These things may arouse HMRC to dig deeper into the tax affairs of an individual or a company. Broadly, HMRC

How Long Does a Tax Investigation Take? Read More »

Is There Stamp Duty On Commercial Property?

Leave a Comment / Landlord, Tax Issues, Taxation / Mubashir

Want to buy a commercial property? Wondering is there a stamp duty on commercial property? The quick answer is yes, you need to pay SDLT on commercial property. Likewise residential property, you need to pay a one-time stamp duty land tax on commercial property transactions worth over £150,000. This tax is payable whether you are

Is There Stamp Duty On Commercial Property? Read More »

Things to Consider when Buying a Car Through Limited Company

Leave a Comment / Finance, Limited Company, Tax Issues, Taxation / Mubashir

Considering buying a car through a limited company? At first, it may seem an appealing idea for saving a great amount of tax, however, there are many complications and business tax implications that you need to be aware of. Buying a car through a business would only be beneficial to you as per your circumstance.

Things to Consider when Buying a Car Through Limited Company Read More »

How Do Uber Drivers Pay Taxes in the UK?

Leave a Comment / Self-employment, Taxation / Mubashir

Are you thinking about becoming an Uber driver in the UK and joining a community of over 40,000 drivers? You’re probably wondering how much you can make and, more importantly, how taxes work for Uber drivers in the UK. In this guide, we’ll cover everything from how to become an Uber driver, the benefits, your

How Do Uber Drivers Pay Taxes in the UK? Read More »

What are Limited Company Dividends and How are they Taxed?

Leave a Comment / Accountants, Limited Company, Taxation / Mubashir

Limited company dividends are the amount of money/profit that a limited company pays to its shareholders. The amount of money earned by a limited company is distributed in the form of dividends after paying all the liabilities and expenses, along with the outstanding taxes (like VAT and Corporation Tax). Your company is not liable to

What are Limited Company Dividends and How are they Taxed? Read More »

What is Tax Relief? What you can Claim it On?

Leave a Comment / Tax Issues, Taxation / Mubashir

Tired of paying too much taxes? Want to minimise your tax burden? Avail tax reliefs! These reliefs can be a great way to mitigate your taxes and to reclaim taxes you have already paid. Read on to find out what is tax relief, how it works, what types of tax relief you can claim and

What is Tax Relief? What you can Claim it On? Read More »

Beginner’s Guide on Staff and Client Entertainment Expenses

Leave a Comment / Small Business, Taxation / Mubashir

Entertaining clients or staff has been proved to bring a number of advantages. For example, giving rewards to employees for their hard work increases their morale and builds loyalty. On the other hand, spending time with clients helps to make better relationships with clients. Therefore, it is essential to know what expenses qualify as entertainment

Beginner’s Guide on Staff and Client Entertainment Expenses Read More »

How Tax on Pension Works – A Basic Guide!

Leave a Comment / Taxation / Mubashir

You will have to pay taxes even after retirement. The money you will get as a pension is classed as income, and on most of the income, you must pay tax. So, it is essential to know how tax on pension works. This blog will help you how to get the most out of your

How Tax on Pension Works – A Basic Guide! Read More »

What Is a Tax Rebate? Step-by-Step Guide to Claiming It?

Leave a Comment / Tax Issues, tax Saving tips, Taxation / Mubashir

Tax rebates offer a great opportunity to reclaim money if you’ve overpaid your taxes. But they’re often overlooked or misunderstood. If you’ve recently changed jobs, worked part-time, or had deductions that don’t align with what you actually owe, you could be eligible for a rebate. In this blog, we will talk about what is a

What Is a Tax Rebate? Step-by-Step Guide to Claiming It? Read More »

Uniform Tax Rebate – Claim Your Tax Relief Today!

Leave a Comment / Taxation / Mubashir

Uniforms are sets of clothing that employees of an organization need to wear at work. Most of us wear a particular uniform, branded clothing or safety gear and take it as a matter of course. However, many of us are unaware that we can claim uniform tax rebates on the cost involved in the wash,

Uniform Tax Rebate – Claim Your Tax Relief Today! Read More »

What is LBTT – A Basic Guide!

Leave a Comment / Tax Issues, Taxation / Mubashir

If you are buying a home or property costing above £145,000 in the Scotland, you have to pay LBTT (Land & Buildings Transaction Tax) on it. In addition to that, if you are buying an extra property (above £40,000), you have to pay 4% more on the property’s total purchase cost. The standard rates of LBTT

What is LBTT – A Basic Guide! Read More »

Contracting Umbrella Company – A Guide For Beginners!

Leave a Comment / Accountants, Taxation / Mubashir

If you are a self-employed contractor, you can operate through a contracting umbrella company instead of burdening yourself in establishing your new private company. The benefits of operating via an umbrella company are based on your IR35 status and contracting period with the company. This blog will let you know about the importance of working

Contracting Umbrella Company – A Guide For Beginners! Read More »

Tax Code 1257L – A Basic Guide

Leave a Comment / Taxation / Mubashir

You are on the UK’s most often used tax codes for the tax year (2021-2022) if your payslip shows the tax code 1257L. At the beginning of every tax year, you get a new tax code from HM Revenue & Customs. A tax code is essential, as with the help of it; you will be

Tax Code 1257L – A Basic Guide Read More »

Trading Income Allowance – A Small Guide for Beginners

Leave a Comment / Finance, Grants, Schemes, Taxation / Mubashir

If you’re a newly self-employed person looking to set up a business, then you may be concerned about the taxes. But first, you must be aware of a tax relief that is available for you. This tax relief is known as a trading income allowance. It has an impact on the tax amount, which you

Trading Income Allowance – A Small Guide for Beginners Read More »

How to Avoid Emergency Tax – Basic Guide

Leave a Comment / Tax Issues, Taxation / Mubashir

Your employer will deduct emergency tax from your paycheck if you do not provide complete information of tax at the start (of work) within the United Kingdom. In addition, you are also charged with an emergency tax on your pensions. Therefore, read on this blog to know how to avoid emergency tax. We are skilled

How to Avoid Emergency Tax – Basic Guide Read More »

Tax Implications of Taking Money from a Limited Company for Home Office

Leave a Comment / Tax Issues, Taxation / Mubashir

Due to COVID-19, numerous people are shifting towards WFH (work from home). Operating from home is benefiting people in reducing the overall expenses. This encourages people to start their businesses. When working from home as a limited company, there are many tax reliefs provided by the HMRC. This blog will let you know about the

Tax Implications of Taking Money from a Limited Company for Home Office Read More »

How Do I Register as a Sole Trader? – Basic Guide

Leave a Comment / Self-employed accountants, startup Accountants, Taxation / Mubashir

It is a fact that there are many benefits of establishing your own business. That’s where the sole proprietorship, the most basic business structure, comes in. Being your own boss allows you to work from home, make your own decisions, keep all profits, and apply business growth methods. So, if you wish to work as

How Do I Register as a Sole Trader? – Basic Guide Read More »

Tax Information For Freelancers: How to Pay Tax on Freelance Work UK?

Leave a Comment / Taxation / Mubashir

A government study found that a wide range of individuals works for themselves within the UK. If you’re one of them, you’ll be obligated to pay tax on freelance work UK and need to register yourself for Self Assessment. After registering, you are required to pay several types of taxes such as income tax, NICs and

Tax Information For Freelancers: How to Pay Tax on Freelance Work UK? Read More »

What is Net Pay? Net Pay Vs Gross Pay – Definitions & Formulas

Leave a Comment / Tax Issues, tax Saving tips, Taxation / Mubashir

Do you know what’s being deducted from your annual salary and what is progressing to be your take-home pay? So, it is essential to understand what is net pay and how it differs from gross pay to help you oversee your funds and make several goals for increasing profits and developing a career. This article

What is Net Pay? Net Pay Vs Gross Pay – Definitions & Formulas Read More »