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Loan charge is essential legislation in the UK for contractors and employees who were involved in disguised remuneration schemes. Loan charge that came into effect on the 5th April 2019, works in a way that it adds up all the outstanding loans together and taxes them as income for the tax year 2018-19. As a […]
Embarking on a journey of building your own startup can be the most crucial decision you make all year. It is not just a matter of creating a company but also of deciding when you want to run it by yourself or have partners running it with you. A Limited Liability Partnership is a business […]
Do you own a small business? Are you struggling with saving taxes and making more money? Small businesses often struggle with navigating their way through the initial parts of a company’s life-cycle. Important aspects need to be kept in mind such as recruiting potential employees in selecting a suitable office space to carry out the […]
Being a freelancer is like being self-employed. So, people often get confused about saving and paying taxes every financial year. However, as a freelancer, if you are well-versed with the basics of filing your tax returns, you can end up saving a lot of money. The kind of taxes that a freelancer pays can vary […]
Presumptions and mistakes are an integral part of any career. It is how you learn and how you thrive in your professional career. However, you can save yourself a lot of trouble and efforts if you just know the common mistakes that contractors make as well as the best ways to avoid them. This is […]
“Call Uber” isn’t that what comes out of our mouth nowadays instead of saying, “call a taxi?” Uber gained the trust and love of its customers to such a far extent that a taxi means an Uber now. The Uber community is spread all over the globe with around 40,000 drivers alone in the UK. […]
Plotting a business is no piece of cake. Those scratching their head thinking about a business, have to jump over two major barricades first to hit the road later. One – whether to operate as sole trader or start a limited company and secondly, the costs involved. To make a decision, knowing both the business […]
The Property Taxation of the UK is quite famous because there is a long list of it; Stamp Duty Land Tax (Land and Building Transaction Tax in Scotland), Income Tax, Capital Gains Tax & Inheritance Tax and the Annual Tax on Enveloped Dwellings. If you are a UK resident or a non-UK resident, the game […]
PAYE stands for “Pay As You Earn” and is essentially a government system of paying income tax and national insurance contributions (NIC) across the country. The employer will tally up how much tax and NIC an employee needs to pay and deduct it before paying the wages or pension. These contributions are included in the […]
Every contractor has two rather tricky choices in front of him/her when it comes to how they operate – as a part of a PAYE Umbrella or as an independent Limited Company. Choosing to go for a Limited Company or a PAYE Umbrella both come with their fair share of advantages and disadvantages. It all […]
