Tag: Income Tax

Working with Accounts and Tax
Articles

Working with Accounts and Tax

Many SME’s and owners fall into difficulty when it comes to claim the expenses. They either don’t claim adequate, or claim erroneous, therefore paying tax more than they should.

Is Tax and NIC Payable on Tips
HMRC

Is Tax and NIC Payable on Tips

Where tipping is a usual feature of a business, there is often an organised arrangement for sharing tips amongst employees by a person who is not the employer. Such an arrangement is commonly referred to as a ‘tronc’.

Starting Business
HMRC

Starting a Business | Income Tax and Accounting

A business can choose the accounting date that best suits the business. This will affect the profits assessed in each tax year and the extent of overlap profits. A date early in the year will give the maximum cash flow benefit.

Tax on Sports Professionals in UK
HMRC

Tax on Sports Professionals in UK

The tax that sports professionals pay is very confusing and complex and once again it is linked to the sport that they are involved in. For those sports professionals who are foreign, yet live and play in the UK, they will be susceptible to UK tax laws but it becomes a completely different situation when you have visiting sports professionals who take part in a competition and then leave the UK.