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Browse 227 Advice about Tax

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Depreciation vs Capital Allowances 4 Dec 2023 Tax - Due to the differences between depreciation and capital allowances, it is necessary to adjust the accounting profit to arrive at the taxable profit.
Submit your tax return before 30 December when using PAYE 4 Dec 2023 Employment, Tax - If you owe tax and you want to have it collected through PAYE via an adjustment to your tax code, you will need to file your tax return earlier.
PAYE settlement agreements – how do you set one up? 4 Dec 2023 Employment, Tax - By entering into this PAYE arrangement, the employer agrees to settle the tax on the employee’s behalf by one annual submission and payment to HMRC.
Disincorporation – when & how? 4 Dec 2023 Policy, Strategy, Tax - Disincorporation involves the transfer of the assets and liabilities to the shareholders.
Associated company rules post-1 April 2023 24 Nov 2023 Tax - The associated company rules prevent a company from splitting or fragmenting its activities and benefitting from the lower small profits rate.
What is the Difference Between an Asset Sale and a Share Sale? 21 Nov 2023 Exit, Strategy, Tax, Valuation - The main difference between an asset sale and a share sale is that in a share sale, the buyer will acquire all the company’s responsibilities.
Exceeding VAT registration threshold temporarily? 3 Nov 2023 Tax - Most business owners know that VAT registration is a legal requirement should total taxable turnover for the previous 12 months exceed £85,000 or turnover is expected to exceed £85,000 in the next 30 days.
Get your overlap relief figure 3 Nov 2023 Tax - You may be able to make a claim for overlap relief if you meet several conditions.
Relief for pre-trading expenses 3 Nov 2023 Tax - Relief is only available to the person who incurred the expenditure and commenced the trade.
Capital allowances on leased assets 6 Oct 2023 Tax - Capital expenditure is not usually deducted in calculating profits for tax purposes - capital allowances are claimed instead.
Social Influencers and Tax 2 Oct 2023 Tax - There are no special tax rules for online traders, influencers and content creators and normal tax rules apply.
Dormant Company from the Corporation Tax Perspective 2 Oct 2023 Tax - You may still receive a letter from HMRC reminding you when the corporation tax for the period is due.