How is corporation tax calculated? August 22, 2019 How is corporation tax calculated? Corporation tax for small business explained! When you trade as a limited company, your company will pay corporation tax based on the level of profits it makes. In this guide we explain the basics of corporation tax including how it is calculated and when to pay your corporation tax. We… Read More
Making Tax Digital for VAT – Step-by-Step MTD Guide July 26, 2019 Making Tax Digital for VAT – MTD VAT Making Tax Digital for VAT (also known as MTD) is the first step in HMRC’s strategy to move the UK taxation system into a modern digital age. Initially there were plans for personal tax returns, as well as VAT returns, to be submitted under the new MTD… Read More
Payments on Account Explained May 21, 2019 What are payments on account? We explain when you need to make payments on account to HMRC for your self assessment tax return Payments on account for personal tax returns (self assessment) can be one of the most confusing things to understand when it comes to your income tax bill. The personal tax year in… Read More
What is the tax treatment of leasing a van for your business? April 25, 2019 Leasing a van through your limited company Question: “I run a small limited company and am planning to get a company commercial vehicle (van) through my business, but I am unclear on how the tax works, can you explain what tax relief I will get as well as any other tax issues to consider?… Read More
Limited Company vs Sole Trader 2019/20 April 11, 2019 Limited company and sole trader differences 2019/20 In this article we are going to discuss the main differences for the 2019/20 tax year between running your business as a sole trader in comparison to a limited company, in general terms and then in regard to UK taxation (the article assumes you are a taxpayer in… Read More