The UK Government provides a calculator that can help you estimate your business rates online. Some businesses are eligible for relief on their business rates. These include: Rural properties providing vital services, for example post offices and general stores in rural areas (100%) Retail, hospita...
TOTAL Landed cost including duty and VAT: £6710 So in this example, the total of UK duty and VAT (tax) payable to import these goods to the UK is £175 + £1035 which is £1210. Here is a similar example created by our online calculator: Paying your UK Duty and VAT tax Wh...
This means that you may have to pay slightly different import duties on various products. The UK government has an online tariff calculator on itswebsite. Either you use this to calculate your import duty, or you ask your freight agent to help with it. How much you pay as import duty wi...
Value Added Tax (VAT) was only introduced in the UK in 1973, at a rate of 10%. And it’s been an excellent money earner for the UK government ever since. There are now 3 different rates of VAT in the UK: Standard rate: 20%, applies to most products and services Reduced rate: 5%...
While there is no cheap ‘government funeral’ as such, you may be able to apply for a public health funeral through your local authority. This is because local councils are legally responsible for funeral arrangements in cases where there isn’t enough money in the estate to pay for it, ...
Stamp dutyis a tax you may have to pay to the government when buying property or land. At the time of publication, if you’re buying a residential home in England or Northern Ireland, stamp duty only becomes payable on properties worth over £250,000. Different thresholds and rates apply...
1.187 Combined with the increases the government has made to the personal allowance and the introduction of the Personal Savings Allowance, from April 2016 individuals will be able to receive up to £17,000 of income per annum tax-free, and separately invest up to £15,240 per annum throu...
Stamp Duty Land Tax - the latest As part of government’s commitment to support homeownership and promote mobility in the housing market, in turn supporting economic growth, a Stamp Duty Land Tax reduction was announced in September 2022. The measure increases the residential nil-rate tax threshol...
Completing your Self Assessment can be daunting. Read this guide on submitting a tax return for sole traders or self-employed and learn all you need to know.
The tax year runs from 6 April to 5 April the next year. All of us have a basic level of income – whether we’re employed or self-employed – that we can earn during this period before we have to pay income tax. But after your allowance is used up, the government starts taking ...