Confident that your tax filing is free of omissions? For many owners, small business tax obligations can be overwhelming, especially with the rapid update to the rules and allowances every year. From the types of taxes applicable, to the policy updates and deadlines. We will talk about small business tax obligations according to the 2025/26 […]
Small Business Tax Guide: Key Tips for Accurate Filing in 2025 Read More »
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 »
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 »
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 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 »
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
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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
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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 »
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.
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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 »
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 »
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 »
Nearly everyone within the United Kingdom is authorised to a personal allowance that is tax-free. It implies that each year a specific amount of tax-free income is paid to you. However, you will not receive any personal allowance if you are on a BR tax code; instead, you will pay 20 percent tax on all your
What is BR Tax Code – A Basic Guide! Read More »
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
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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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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
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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 »
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 »
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 »
If you’re thinking to set up your enterprise as a limited company (or you have already set up), you must know what share capital is and how it works. Shareholders within the company are only responsible for what they put into the business as limited companies are ordinarily “limited by shares.” You would often encounter
What is Share Capital and How it Works? Read More »
HM Revenue & Customs is responsible for managing taxes in the United Kingdom. The main types of taxes are Income tax, NICs, VAT, Corporation Tax, Excise & Stamp duties. In most of the taxes, people with high income pay a high rate of taxes. Once you pay your charges within the UK, it can include
6 Main Types Of Tax To Pay In The UK – Taxation Guide Read More »
Self-employed expenses can be deducted from the business turnover to calculate the overall tax required to pay every year. However, all the business expenses are not allowable. Therefore, as a self-employed person, you must know the cost that can be reclaimed on your tax returns. In this blog, you will come to know about What
Tax Allowable Expenses – A Guide to Self-Employed Persons! Read More »
As an owner of a small enterprise, you are required to pay several taxes according to the performance of your business on time. Therefore, there are several tax breaks available for SEMs to ease a load of tax in many ways. You Free up an amount of money for your commerce, diminished with a tax
3 Tax Breaks Small Enterprises can Take Read More »
