Why should I file my tax return early? The deadline for filing your self assessment tax return is 31st January each year, however it can be done any time after 6th April. The deadline for payment is also 31st January. More than 77,500 tax...
Do I need a business bank account? A question I regularly get asked from business owners when they are first starting out is “do I need to open a business bank account?” This will depend on the type of business you own and its...
What is a trivial benefit? Who can receive them and do they need to be reported? What is a trivial benefit? A trivial benefit is a tax-free employee benefit which could be described as a small gift or perk. There are pretty strict tax rules...
Your Self-assessment bill includes a payment on account?…..’What is it?’…..’Do I Have to pay it?…..’When do I have to pay it?’…..’How do I pay it?’ What is payment on account? ‘Payments on account’ are advance payments towards your tax bill, made twice a year by...
So, you have taken the plunge and decided to start working for yourself. But should you register as a sole trader, or set yourself up as a limited company? The answer to this could be different for different people. It depends on many factors. What...
Setting up a business whether a sole trader, partnership or limited company, comes with a lot of questions. ‘What do I need to submit?’ ‘When is it due?’ and ‘what do I include?’ will probably be on your list. The one at the very top...