Personal Tax and Benefits
Income Tax bands of taxable income (£ per year) Income tax rates These figures apply to non-dividend income, including income from...
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Welcome to our
Knowledge Base
Help, guidance and useful information about some of the key areas our Accountancy covers
Partnership or Company?
Deciding between a company structure and a partnership structure depends on several factors, such as the nature of the business, the...
How do Partnerships work?
A partnership is a type of business structure where two or more individuals or entities share ownership, profits, and losses....
Tax on Partnerships
Partnerships are subject to various taxes and national insurance contributions (NICs) in the UK. Here are some of the main taxes and NICs...
SME’s and tax responsibility
Small and medium-sized enterprises (SMEs) face a range of tax issues that can impact their financial health and compliance obligations....
Benefits in Kind
Benefits in kind (BIK) are non-cash benefits provided by an employer to an employee, in addition to their salary or wages. BIK are...
Business Expenses
Tax allowable business expenses are expenses that can be deducted from a business's income for tax purposes, reducing the amount of...
IR35 - For Contractors, Freelancers and Self-Employed
IR35 is a UK tax legislation that was introduced in 2000 to tackle tax avoidance by individuals who work through their own limited...
Self-Employed Taxes
If you are self-employed, you will need to pay taxes on your business income. In the UK, self-employed individuals are required to...
Self-Employed vs Limited Company
When starting a business, one of the decisions you'll need to make is whether to operate as a sole trader or a limited company. Here are...
The Tax Return Process
The main elements of self-assessment in the UK include: Registration: Individuals who are required to complete a self-assessment tax...
Who must complete a UK Tax return?
In the UK, individuals who fall into any of the following categories are required to complete a self-assessment tax return: Self-employed...
What is Self Assessment?
The UK self-assessment is a system used by His Majesty's Revenue and Customs (HMRC), for individuals to report their income, expenses,...
Mutuality of Obligation (MOO)
This is one of three traditional pillars (with personal service and master servant control) required to create an employment relationship...
Buy-to-let Property
Buy-to-let property in the UK can be owned either by an individual, or by a limited company. Allowable expenses are deducted from rental...
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