Sep 11, 2023 | Business Start Ups, Excise Duty, FAQ, HMRC
Up to 38,000 pubs and bars which have seen cuts in the tax they pay on the draught products they serve will be better off thanks to changes to the way that Alcohol Duty is calculated from August 1, 2023. The cuts will make pints and other products sold on tap 11p...
Sep 4, 2023 | FAQ, Income Tax, PAYE, Payroll, Pensions
People making the most of flexible pension withdrawals have been facing tax overpayments due to miscalculations by HMRC. In Q2 2023 alone, the taxman repaid £56,243,842 to people who had been taxed more that they should on their pension withdrawals. This amounts to an...
Mar 3, 2019 | Limited Company, Tax
If you run a limited company it is likely that you will receive personal income from your company in the form of both salary and dividends. As dividend tax rates differ from other forms of income, and the tax due is usually worked out after the tax year in which the...
Jul 9, 2018 | FAQ, Sole Trader
A sole trader is an individual who trades on his/her own on a self-employed basis. If you start working for yourself as a sole trader, you will own and run your business as an individual and will keep all the business’ profits after taxes. A sole trader is: liable to...
Feb 18, 2018 | FAQ, Profit and Loss
Ok, your accountant has just sent you your profit and loss for the year, but what is a profit and loss account and what do the figures actually mean? Simply put, a profit and loss account statement details how much money your business has made or lost over a period of...
