Category: Knowledge Base

R&D Tax Credits Explained

Posted by on 4.12.24 in Knowledge Base

Various incentive schemes exist to encourage UK companies to invest in innovation, including R&D Tax Credits. HMRC estimates that for every £1 forgone in tax, through Research and Development Tax Credits, £1.53–£2.35 is stimulated in R&D spend by UK companies. What are R&D Tax Credits? Research and Development Tax Relief schemes were introduced by the […]

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UK Property Tax Guide

Posted by on 2.2.24 in Knowledge Base

Landlords typically need to pay property tax on the profit generated from rental properties. Simply put the profit is the difference between the rental income and the deducted expenses or allowances. Rental profits are taxed at the same rates as income you receive from your business or employment – 0%, 20%, 40% or 45%, depending […]

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Do i need to register for Self-Assessment

Posted by on 1.31.24 in Knowledge Base

There are a number of reasons why a taxpayer needs to complete a Self-Assessment tax return. This includes if they are self-employed, a company director, have an annual income over £100,000 and / or have income from savings, investment or property. Taxpayers that need to complete a Self-Assessment tax return for the first time should […]

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Value-added tax (VAT) – Comprehensive Guide

Posted by on 1.31.24 in Knowledge Base

Value-added tax (VAT) is a consumption tax added to taxable supplies at each stage of the supply chain for most goods and services. The general principle is that the customer ultimately pays the charge the Value-added tax (VAT). Each business in the supply chain will charge the next business VAT. And the business can generally […]

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What is the optimal salary you should take from your limited company?

Posted by on 1.31.24 in Knowledge Base

Starting a limited company is a preferred option for most people opening a businesses, however this can present you with a challenging situations such as what salary should you pay yourself. ‍One of the differences between being paid by an employer and running your own business is having to sort out how your limited company pays […]

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