Your Corporation Tax bill is reduced by allowable expenses, such as travel, subsistence, even your salary (but not dividends). The rules and guidance on expenses is quite extensive, however, your Accountant will be able to advise on expenses which you can claim, along with any potential ways ...
A hefty tax bill will clearly be due on that £78,900. If it were all charged at the higher CGT rate on shares of 20%, then you’d pay £15,780 in tax. But wait! While sitting in a pool of your tears as you lament the demise of your favourite investing blog AND your immin...
If you’ve ever wondered why the tax system is so vast and unfathomable, child benefit and this clumsy attempt to taper it down provides a perfect case study. A silly system is being redressed with an even sillier system, at great expense and hassle for everyone – including HMRC – and ...
You’ll have to pay taxes on the profits if you sell an NFT. United Kingdom In the UK, Her Majesty’s Revenue and Customs (HMRC) is the department responsible for tax collection. Although there is no public HMRC guidance on the UK tax status of NFTs, it’s a good bet that they’...
Do I need to pay tax on freelance earnings? If you earn more than £1,000 from your freelance work, then you’ll need to declare it to HMRC. If you’re self-employed, you’ll have to register forSelf Assessment. If you’re on PAYE, you can receive your tax bill by changing you...
certain threshold, you may need to register for and collect VAT. It’s a good idea to know how VAT can affect you and your business. You may need to add VAT to your prices and send that extra money to HMRC. You’ll be able to claim back any VAT that you pay on business supplies...
uses the financial data you enter throughout the year to populate most of your Corporation Tax return. All you have to do is check the figures and enter the remaining information. FreeAgent then calculates your tax bill and allows you to file your completed tax return directly to HMRC. ...
National Insuranceforms part of your tax bill. So, you’ll need to take it into account. HMRC works this out automatically, which means you don’t have to calculate it yourself. However, it’s good to have an idea of how much you’ll owe. That way you can plan better. ...
If you are actually moving to Spain from UK then you must tell the UK government offices that deal with your benefits, pension and tax that you are moving or retiring abroad. You can check the entry requirements for Spain here and plan your move to Spain from UK. Before you move to Spa...
Your accountant, or CPA, can use that investment account to see the financial records in which you store your independent pay, at that point guide you on more positive ways to save money on your tax bill. An Alternate Way to Save