Heighten Accountants
As a UK business owner, if you own a dormant company, it’s crucial that you are aware about the legal obligations that come with owning such a business. Having a dormant company status comes with a lot of significant benefits as long as you are taking the correct steps to maintain compliance with financial and […]
Working as a sole trader means you are responsible for all your business. Working to grow your business and managing your books together can be a handful and quite difficult to manage. Self-employed accounting software can be helpful in cutting down the admin work so you can focus on your actual business. Why Sole Traders […]
If you are thinking about selling your business, shares or assets, there is a high chance you would have to pay a large percentage of your profit towards Capital Gains Tax (CGT).
Value-Added Tax (VAT) is a consumption tax applied on most of the goods and services sold in the UK. Currently, the standard rate is set at 20%, along with a reduced rate of 5% and 0% on certain goods and services. This VAT is collected by businesses on behalf of HMRC. When a business is […]
If you think you have paid too much tax this year, you are not alone. Like yourself, millions of UK taxpayers overpay every year, and often without realising it. This can happen due to a number of reasons for example if you are changing jobs or taking a break from work, in which case you […]
Tax Codes in the UK refer to a series of numbers and alphabets used by HMRC to determine how much income tax needs to be deducted from your earnings.
These codes are used to reflect on an individual’s tax-free allowance and any other additional income that requires taxing.
