Tax might be inevitable, but it’s also pretty confusing at times. Find out how and when you need to pay tax in your business, what tax relief and allowances are available, and discover tips and advice to help you keep good financial records quickly and easily.
As the saying sort of goes, paying tax is pretty much inevitable, whether you’re employed, self-employed, or earning money from a side hustle or as a landlord. The money you earn from an employer is usually taxed at source, which means that your employer deducts the right amount of tax and National Insurance on your…
Ah, Corporation Tax, the unavoidable pain in the wallet. But what’s it all about? How much is it and when do you have to pay? If you’re looking to start a limited company, then we thought it might be useful to go over the basics of paying tax on any profits your business makes. We…
HM Revenue and Customs (HMRC) use the Self Assessment system to collect income tax. While the idea of submitting a tax return can be daunting, Self Assessment is normally more straightforward than it seems (once you get past the terminology). Who needs to complete a Self Assessment tax return? In most cases, anyone who…
Managing VAT can seem a bit scary, but keeping accurate records doesn’t have to be the stuff of nightmares. Whether you’re new to VAT registration or just looking to make your process a bit more streamlined, we’ve put together this guide to help. We’ll walk you through everything you need to know about keeping records…
Bridging software allows businesses to link their financial records to HMRC in a way which complies with Making Tax Digital rules. Quite literally, it ‘bridges’ gap between non-compatible records and HMRC so that tax information can still be shared. What are the Making Tax Digital rules? Making Tax Digital, or MTD for short, was…
