News & Blog

Sole Trader vs Limited Company – A Guide to Help You Decide

Sole Trader vs Limited Company – A Guide to Help You Decide

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 […]

UK Property Taxes – The Complicated Game of Residential Market

UK Property Taxes – The Complicated Game of Residential Market

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 […]

What is PAYE? – Pay As You Earn Explained

What is PAYE? – Pay As You Earn Explained

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 […]

PAYE Umbrella or Limited Company – What Is the Best Way Forward?

PAYE Umbrella or Limited Company – What Is the Best Way Forward?

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 […]

10 Important Tips for Locums to Tackle Their Tax Returns

10 Important Tips for Locums to Tackle Their Tax Returns

With every passing day of January, all the self-employed people are nearing their self-assessment tax return deadline which is 31 January 2019. For locums, this is the time of added work of getting the paper work sorted and finances managed. So, to make the process smoother, you can go through these 10 tips for your […]

Self Assessment Tax Return – Good Reasons to have an Accountant

Self Assessment Tax Return – Good Reasons to have an Accountant

While finance might not be one of your strong skills, an accountant is certainly a pro at it which is why more than half of the UK taxpayers trust their accountant with numbers. The complex rules of taxation and the minute details that need attention in the process can be a bit overwhelming especially if […]

New Trivial Benefits – Small Expense for Employees

New Trivial Benefits – Small Expense for Employees

The new HMRC rules permit small companies to claim expenses towards costs incurred for offering trivial benefits to employees and directors. There is an upper cap on the amount that can be spent for each individual employee and for each individual director, in addition to the restrictions on where the expenses can be claimed. The […]

What is a sole trader? How to register as a sole trader?

What is a sole trader? How to register as a sole trader?

Sole traders, also called sole proprietors, are individuals who have set up their own business. Sole traders own the business and are solely responsible for growing the business. The ultimate onus of the success or failure of the business also lies with them. They may hire other people but are the sole beneficiaries of the […]

What You Need to Know about Corporation Tax Return?

What You Need to Know about Corporation Tax Return?

Businesses in the UK are bound to pay the corporation tax if they function and garner profit as any one of the entities mentioned in the list below: A limited company A foreign company with a branch or office in the UK A club, cooperative or any other unincorporated company (social groups and games clubs) […]

Investing in BTL (Buy to Let) property through a limited company

Investing in BTL (Buy to Let) property through a limited company

Post the 2017 budget, as there was a redemption on tax for interest on BTL (Buy-to-Let) mortgages, there has been a tremendous increase in landlords purchasing Buy-To-Let (BTL) investments under the name of the limited company rather than their personal name. This also changed the cut-off of the net rental income on which the mortgage […]

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