The term Value Added Tax (tax) refers to a consumption tax imposed on goods and services in the UK. It can be charged at different rates such as standard, reduced and zero-rated rates. Businesses that meet certain criteria must register themselves for VAT, charge it on sales and also submit regular returns to HMRC.
Corporation Tax
A Comprehensive Guide to Company Tax Return Filing in the UK
Operating a business in the UK entails the potential need to submit a Company Tax Return and remit Corporation Tax on generated profits. Corporation Tax applies to certain UK businesses and organisations based on their profits, which represent the remaining income after covering all expenses. Upon establishing a limited company, you’ll be required to adhere […]
Capital Allowances – A Complete Overview
Capital allowances form a crucial component of the intricate tapestry that is the UK tax system, providing businesses with a mechanism to alleviate the financial burden of qualifying capital expenditure.