Gifting your home while continuing to live in it comes with some major complications. While it can be part of an inheritance tax (IHT) strategy, it’s rarely the quick win people hope for.
Let’s face it — no one wakes up excited to talk about tax. But tax planning? That’s where the smart money moves begin.
Learn what Capital Gains Tax is, how it works in the UK, and how to minimise your tax bill with savvy tips from experienced accountants.
Find out if beneficiaries pay tax on inheritance in the UK and how Capital Gains Tax affects inherited property. Expert advice for a tax-smart approach.
Discover how effective tax planning helps UK businesses reduce liabilities, improve cash flow, and grow. Avoid penalties and optimise your next tax return with expert tips.
Discover how often you can pay yourself dividends from a limited company. Learn about legal requirements, tax implications, and smart strategies to stay compliant and tax-efficient.
Big changes are on the horizon for company directors, PSCs (People with Significant Control), and service providers who interact with Companies House.
Winter fuel payments for all UK pensioners are back—but higher earners will see HMRC reclaim the cash through tax. Here's how the system works and what to watch out for.
MTD Income Tax is coming for sole traders and property owners. Find out what Making Tax Digital means, when it starts, and how to get ready.
Find out how to claim tax relief for job-related expenses in the UK. Learn which business expenses qualify, how to apply, and how to maximise your tax savings.
Inheriting from a loved one can be an emotional and often life-changing event. While the focus is usually on family and legacy, the less sentimental side—tax—shouldn’t be ignored. Many people assume that once something is left to them, that’s the end of the story. Unfortunately, HMRC often has a chapter or two to add.The UK doesn’t shy away from taxing inheritance. In fact, with inheritance tax potentially as high as 40%, it's one of the more aggressive systems in the world.So what happens when you inherit property, money, or shares? Are you taxed straight away? Is there property tax involved? And what smart steps can you take to legally reduce your liabilities?Let’s break it down, plain and simple.
Instead of printing financial records or relying on one device to store critical documents, cloud accounting allows users to upload everything to an online server. This data can then be accessed securely from any internet-connected device, such as a phone, tablet or computer.
Beginning 14 October 2024, employees will need to submit claims for tax relief on employment expenses through form P87, which must be sent by post along with supporting documentation. The procedure for claiming via self-assessment will remain unchanged.
Pay As You Earn (PAYE) is a system used by employers in the UK to collect income tax and National Insurance contributions from employees' earnings. It is a crucial component of the UK tax system, ensuring that taxes are deducted at source, making the process easier for both employees and the government.
Value Added Tax (VAT) is a significant part of the UK tax system, affecting businesses and consumers alike. Whether you are a business owner or just a consumer, understanding VAT can help you navigate costs and pricing more effectively.
In the United Kingdom, a shareholder is an individual or entity that owns shares in a company. These shares represent ownership stakes in the company, granting the shareholder certain rights and responsibilities.
In the United Kingdom, a financial year end (FYE) is a specific date chosen by a company or organization to mark the end of its accounting period. This date can be any day of the year, but it must be consistent from one year to the next, being a 12-month time period.
In the UK construction industry, effective tax management is essential for both contractors and subcontractors. One crucial element of this framework is the Construction Industry Scheme (CIS), a government initiative designed to streamline tax collection within the sector. By ensuring that tax is deducted at source, the CIS helps maintain compliance and financial stability.
In the fast-paced world of business, staying on top of financial records is crucial for success. This is where bookkeeping comes into play. This blog will explore what bookkeeping is, its significance for businesses in the UK, and how effective bookkeeping can lead to better decision-making and overall business health.
Starting a business is a thrilling journey and one of the most popular structures for entrepreneurs in the UK is a limited company. This blog will explore what a limited company is, its advantages and disadvantages and essential considerations for anyone looking to establish one.
Starting a business is an exciting journey, and for many entrepreneurs in the UK, forming a partnership can be an attractive option.This blog will explore what a partnership is, the different types available, and the advantages and disadvantages of this business structure.
The property market in the UK has long been a focal point for investment, development and entrepreneurship. For many, establishing a property company is an appealing way to navigate this lucrative field. This blog will explore what a property company is, the different types and key considerations for anyone looking to enter the property sector.
As the fiscal year comes to a close, businesses in the UK must prepare year-end accounts, a crucial step in maintaining financial health and compliance. This blog will delve into what year-end accounts are, their significance and how they contribute to effective business management.
Starting a business can be an exciting venture and one of the most straightforward ways to do this is by operating as a Sole Trader. So what does it mean to be a sole trader, what are the advantages and disadvantages and key considerations for anyone thinking about embarking on this entrepreneurial path?
Starting a new business is an exciting venture that requires careful planning and consideration. Among the many aspects to consider, accounting and bookkeeping are critical for ensuring financial health and legal compliance. These are the essential factors to consider when launching your business and the accounting and bookkeeping obligations you'll need to fulfil.
Submitting income tax returns is a crucial responsibility for individuals and businesses in the United Kingdom. Beyond being a legal requirement, it offers numerous benefits and serves as an essential component of financial planning. Let’s explore why submitting income tax returns is important and what information is typically required, along with the key deadlines to keep in mind.
Submitting income tax returns is a crucial obligation for individuals and businesses in South Africa. Beyond fulfilling a legal requirement, it offers several benefits and plays a key role in financial planning. Let’s explore why submitting income tax returns is important and what information is required, along with the key deadlines to keep in mind.
Managing payroll is a pivotal aspect of running a business in the United Kingdom. It involves not only calculating and distributing employee wages but also adhering to a range of legal requirements. Proper payroll management ensures employees are paid accurately and on time while keeping your business compliant with UK regulations.
Managing payroll is a pivotal aspect of running a business in South Africa. It involves not only the accurate calculation and distribution of employee wages but also strict adherence to various legal requirements. Proper payroll management ensures that employees are paid correctly and on time while maintaining compliance with South African regulations. So what are the essentials of payroll management and key compliance considerations for businesses in South Africa? Let’s get into it!
In the day and age of technology and today's fast-paced business environment, small businesses must leverage every tool at their disposal to stay competitive and up to date with the latest and greatest technology and software. One such indispensable tool is accounting software. Among the myriad of options available, Xero and Sage stand out as premier choices for small businesses. So how can these platforms assist in transforming your business operations and why are they so important?
Running a small business in South Africa comes with numerous responsibilities, one of the most critical being tax and Companies and intellectual property Commission (CIPC) compliance. We get that understanding the basic tax landscape can be daunting, but it is essential for ensuring that your business remains financially healthy and compliant. Let us guide you through the tax obligations for small businesses in South Africa, offering insights into key taxes, deadlines, and tips for efficient tax management.
Running a small business in the United Kingdom comes with numerous responsibilities, one of the most critical being tax and companies house compliance. We get that understanding the basic tax landscape can be daunting, but it is essential for ensuring that your business remains financially healthy and compliant. Let us guide you through the tax obligations for small businesses in the UK, offering insights into key taxes, deadlines, and tips for efficient tax management
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