Heighten Accountants
As a small business owner or partner, navigating the complex landscape of accounting methods can significantly impact your taxable profits. The choice between the accruals basis and the cash basis is a decision that requires careful consideration, and this blog aims to guide you through the essential factors to help you make an informed choice.
Navigating the intricate realms of finance and taxation often leads us to encounter the enigmatic term: Capital Gains Tax (CGT). Whether you’re a seasoned investor, a homeowner on the verge of selling a property, or someone who’s just bumped into this term, our goal here is to unravel the intricacies of CGT in the UK.
When ATED was introduced on 1 April 2013, the threshold amount was £2 million. The threshold has since been reduced, firstly to £1 million from 1 April 2015 and then to £500,000 from 1 April 2016.
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.
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.
