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Making Tax Digital (MTD) for Income Tax is a significant step towards streamlining the way individuals and businesses manage their tax affairs. It’s designed to replace outdated processes with a more efficient, modern system. But what does this mean for you?
Making Tax Digital (MTD) for Income Tax is a significant step towards streamlining the way individuals and businesses manage their tax affairs. It’s designed to replace outdated processes with a more efficient, modern system. But what does this mean for you?
VAT is a tax that is added to the price of goods and services which a business’s customers pay at the time of purchase or invoice. The business then pays the VAT on to HMRC – effectively operating as a tax collector for HMRC. This means that if your business charged £100 for a...
If you are a director of a small or medium-sized limited company in the UK, you may have heard about a Director's Loan Account (DLA). But do you know what it is and how it affects your company's tax liabilities? In this insight, we will explore all the key aspects of a...
Being a sole trader can be both an exciting and daunting experience. You have complete autonomy over your business, but the weight of responsibility and decisions can be overwhelming. This ultimate guide aims to provide you with insight into the best practices for running your...
As a small business owner, wearing multiple hats is a part of your everyday routine. From managing operations to handling customer relationships, you have your hands full. However, one task that you cannot overlook is accounting and financial management. Proper accounting is...
If you're planning to start a business in the UK, it's essential to choose the right business structure. The most popular choices are sole trader and limited company. Both these structures have their advantages and disadvantages, and choosing the right one depends on your...
The new company cannot have the same name as another registered company in the UK. Even if not the same, if your proposed name is too similar, then you may end up in a dispute as to having the right to use it, especially if the existing company is in a similar sector to you...
