Are you self-employed in the UK? If you are, you need to pay taxes at the right time to the HM Revenue & Customs (HMRC) to ensure you steer clear from penalties. HMRC uses a
Property Developer
Capital Gains Tax on Property Explained
Have you made any profits from selling your property? If you have, then you are required pay Capital Gains Tax on such profits. However, such tax is normally not charged on the gains made from
New Harsh Rules for Tax Evaders
People always look for ways to avoid taxes. But, sadly, some take the wrong route of hiding their income or money overseas simply to evade tax. For tackling such activities, HM Revenue & Customs (HMRC)
Child Benefits in the UK
Child Benefits are paid to every family with children in the UK. This means if you have a child, you are entitled to claim a Child Benefit for a child under 16. Whether you or
General Anti-Abuse Rule (GAAR) – What You Should Know
Being a tax payer, do you have any idea what GAAR is? If not, it is important that you know about it because it directly affects you. In the UK, the General Anti-Abuse Rule (GAAR)
Tips for Choosing a Personal Pension Scheme
Do you plan on retiring in the near future? If you do, put some thought into pension as it is one of the great ways of saving for your retirement. When you decide to take
How Can Pharmacists Cut Tax Bill?
Pharmacists are the ones who dispense medicines and know exactly what to and what not to prescribe to the patients. However, managing finance and cutting tax where applicable, may not be their specialty. If you
VAT Returns: Surcharges & Penalties
Have you missed the deadline for submitting your VAT return and making VAT return payments? If you have, you should know about the surcharges and penalties that you could face for missing the deadlines. You
National Insurance Categories
People working in the UK must know what National Insurance is and must have been paying it. However, to those of you who don’t have much knowledge on this subject; let me shed a light
War Disablement Pension
Have you served in Her Majesty’s Armed Forces? If you have, then the war disablement pension is available in case you have been injured or disabled during a war or a result of service in
What is a self assessment tax return?
Do you know what self-assessment is? In case if you don’t, here is the answer for you. Self-assessment is a system for collecting income tax, which is usually deducted from wages, pensions, and savings. This
How to Cancel VAT Registration
If your taxable turnover is more than £82,000 in the UK, you must register for VAT with the HM Revenue & Customs (HMRC). However, there are a number of reasons that can make you cancel
