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One of the differences between being paid by an employer and running your own business is having to sort out your own pay. You can do this by taking a salary from your limited company - in the same way as a regular employee. Here are the benefits of taking a high or a low salary, without the jargon.
There are many different tax rates in the UK affecting both individuals and businesses - we've pulled them all together so you can keep on top of them.
We explain the tax rates that apply for the 2020/21 tax year, affecting income taxpayers resident in Scotland and how to see if you're affected.
Contractors registered under the Construction Industry Scheme (CIS) are required to deduct tax from their payments to subcontractors. These deductions are paid by the contractor to HMRC as an advance towards the subcontractor’s tax liabilities.
Some businesses include a company car as part of the overall remuneration package for their employees. However, HMRC considers the private use of a company car to be a Benefit in Kind and is, therefore, taxed as part of the employee’s overall income from employment.
If you don’t file your Self Assessment and pay any tax due by 31st January deadline you’ll face fines – and potential extra penalties. Here's all the info.
A Self Assessment tax return is one of the most significant tax documents you’ll be dealing with when you’re self-employed. Here's what you need to know.
We take a closer look at how the new Flat Rate VAT scheme and the Limited Cost Trader test will affect you if you’re a VAT registered small business.
Why use online accounting software when you can download an Excel spreadsheet for free? Well, the reasons are numerous.