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Self Assessment Tax

What is Self Assessment Tax? Self-employment tax returns or self assessment tax returns use the self assessment system by HMRC to collect income tax in the UK. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return this is normally if you …

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Tax Planning

What Is Tax Planning? Tax planning involves looking at your financial plan or situation from a tax perspective to ensure tax efficiency. When you properly plan tax all elements of your financial plan work together to be the most tax-efficient manner as possible. Everyone with their own business should be tax planning or if you …

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VAT Returns

What is a VAT return? A VAT return is the calculation of the amount of VAT due on sales you have made subtracted by the amount of VAT reclaimable on purchases. The result is the amount payable to HMRC. If the amount reclaimable on purchases is more than the amount due on sales, HMRC will give …

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