by raza | Jun 7, 2016 | Tax Rates |
You may get a dividend payment if you own shares in a company. From 6 April 2016, you won’t pay tax on the first £5,000 of dividends that you get in the tax year. This is from 6 April to 5 April the following year. Above this allowance the tax you pay depends on which...
by raza | Jun 7, 2016 | Tax Rates |
Rate % of Vat What the rate applies to Standard 20% Most goods and services Reduced rate 5% Some goods and services, eg children’s car seats and home energy Zero rate 0% Zero-rated goods and services, eg most food and children’s clothes The standard rate of VAT...
by raza | May 24, 2016 | Return |
A limited company is an organisation that you can set up to run your business. It is a separate legal entity meaning it is responsible for its affairs not you. A Limited company is very popular for several reasons – tax savings, flexibility, perception of scale...
by raza | May 24, 2016 | Return |
Two or more individuals can start a partnerships and the business is managed by the partners who often have an formal agreement drawn up to decide how profits (or debts) should be divided and can look at what happens if a partner wants to leave or dies. Each partner...
by raza | May 24, 2016 | Return |
Sole Trader Accounts and Tax is the simplest form of business. Record Keeping is less strenuous compared to Partnerships/Limited Company and only one return is required to be filed. All is required that you register with HMRC and file your personal tax return by 31st...
Recent Comments