The cost of living in the UK has continued to rise, leaving many households struggling. It has led to the UK government announcing support measures to cushion the household in crises. The measures comprise the energy profit levy, low-income household support, and...
Companies must pay corporation tax if they are limited companies, a foreign company with a branch in the UK, or cooperative and unincorporated companies. The unique thing about corporation tax is that you don’t get a bill for the tax. A company has to work out some...
It's human nature to make mistakes. However, if you find out that you’ve made a mistake in your tax return, don’t panic! You can make changes within three days of filing the return. But if you miss this deadline, what do you do then? With the help of a tax accountant...
Capital gains tax is a tax you pay on an asset you sell or dispose of and has increased value. What is taxed is the increased value of the asset and not the entire amount you receive. Some assets are tax-free, meaning you will not incur Capital Gains tax if your total...
With NIC and dividend tax changes set to take effect in April 2022, its important to understand who this levy would affect. For starters, employers, employees, and self-employed should expect an increase in NIC by 1.25%, shareholders or directors should expect a hike...