Business expenses can be a valuable tool for saving taxes and increasing profitability for your business. As a profit-centric business owner, it is crucial for you to understand the various expenses you can deduct from your business to reduce tax liabilities.
The VAT registration system serves as a means for your businesses to comply with tax obligations and collect VAT on behalf of the government.
Under this system, businesses meeting certain criteria are required to register for VAT with HM Revenue and Customs (HMRC).
Trading Non-Fungible Tokens (NFTs) on the crypto market has gained significant popularity, attracting individuals looking to explore the world of digital assets.
However, it’s crucial to understand the tax implications involved in NFT trading to ensure compliance with UK tax regulations.
One of the key incentives for someone who saves into a pension scheme is the tax relief on your contributions available from the government. It is a way of encouraging UK taxpayers to save for retirement.
Whatever income tax bracket you fall under, if you pay into a pension plan, you can claim pension tax relief and this article will explain how it works.
In today’s fast-paced and digital world, technology plays a crucial role in streamlining various business processes. One such process that has undergone a significant transformation is bookkeeping. Traditional bookkeeping methods involving stacks of papers, manual calculations, and hours spent on reconciling accounts are becoming obsolete. Instead, modern businesses are embracing cloud bookkeeping software to revolutionise […]
Tax on foreign income is a complex and important topic that affects individuals and businesses that generate income from sources outside their home country.
In this blog, we will explore the basics of foreign income taxation, including how it works, who it applies to, and what individuals and businesses can do to minimize their tax liabilities.