Tax Archives - Page 5 of 13

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King Charles won’t have to pay inheritance tax

by Admin | Sep 14, 2022 | Accounting, Tax

We mentioned in our previous article the top four most hated taxes in the UK, and inheritance tax is one of them. Because British law stipulates that when people die and leave their relatives with assets exceeding a certain amount, they will need to pay 40%...

Cash Flow Strategies for Your Business

by Admin | Sep 6, 2022 | Accounting, BLOG, Business, E-Commerce, Tax, VAT

For the self-employed, this coming winter may put more pressure on you to manage your cash flow. From energy bills alone, this will make more businesses pay high bills to support their operations. At this critical time, efficient cash flow management can help you...

MTD for Income Tax (MTD ITSA)

by Admin | Sep 1, 2022 | Accounting, HMRC, Making Tax Digital, Tax

HMRC has published a Making Tax Digital Guide to assist taxpayers and self-employed individuals in their income tax self-assessment. This guide (MTD ITSA) will provide taxpayers with greater clarity and explain some frequently asked questions. Register with MTD ITSA...

Running Your Business as a Sole Trader

by Admin | Aug 24, 2022 | Accounting, BLOG, E-Commerce, HMRC, Tax

Photo by Sean Pollock on Unsplash Can two people work together to run a business as a sole trader? This may be a question you’ve thought about or prepared to consult. In this issue, we will answer whether it is feasible to operate a sole trader in a joint...

Import VAT for Small Business

by Admin | Aug 18, 2022 | Accounting, BLOG, Business, crossborder selling, E-Commerce, HMRC, Making Tax Digital, Tax, VAT

We detailed HMRC’s move of customs declarations to the new customs IT platform in a previous article. At that time, the previous customs system (CHIEF) will be replaced. Click here to view the original text In this article, we will focus on providing small and...

Tips of Hiring Your Family Members

by Admin | Aug 16, 2022 | Accounting, BLOG, HMRC, Tax

Recently, our client, Ms Wang, stumbled upon us and asked us what to look out for when hiring family members. Maybe you’ve thought about the same thing, since hiring a family member might be a good idea after all. Family ties may increase trust and...