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“Payment on account” are advance payments towards your tax bill for self-employed individuals and those who receive income that is […]

If you are running a business and your taxable turnover exceeds the current VAT threshold, which is £85,000, or you

As a director of a limited company in the UK, you can make pension contributions through your company. This can

The Construction Industry Scheme (CIS) is a set of regulations that apply to contractors and subcontractors working in the construction

A profit and loss report, also known as an income statement or statement of comprehensive income, is a fundamental financial

HMRC imposes penalties for late filing, late payment, and inaccuracies in the Self-Assessment tax return. Here are the key penalties

Submitting your Self Assessment tax return accurately and on time is crucial to avoid penalties and ensure compliance with HMRC

In today’s digital era, selecting the appropriate accounting software for your business is crucial for efficient financial management. Accounting software

Making a full and unprompted disclosure to HMRC is an important step to ensure compliance with tax regulations and rectify