What is Self assessment? Self assessment is the system HM Revenue and Customs use to collect Income tax from people who are not eligible to have it deducted at source. This could be due to self-employment, a second income from property or pension payments to name but a few. If you are self employed or … Read more Self Assessment Deadlines
General Election 2019 With the upcoming election and the campaigns in full swing how much attention has been given to Labour’s proposals for SME’s? Labour’s proposals for SME’s include: Increasing dividend tax from 7.5% to 20% where the income is lower than 50k Increasing Corporation tax from 19% to 21% where profits are less than … Read more Labour’s proposals for SME’s
AJR & Co provide Taxation services and advice to both businesses and individuals for Tax Compliance and Tax Planning purposes. We also assist with HM Revenue & Customs Enquiries and Investigations and provide Insurance cover to pay for fees incurred in the event of an HMRC Inquiry. Corporation Tax Corporation tax must be paid on profits from doing business as: A limited … Read more Taxation
AJR & Co Ltd specialise in Business Start-Ups. If you want to set out in business in the UK, the requirements of HM Revenue & Customs, Companies House, accounting needs, registration of your business, VAT, PAYE, Corporation Tax and Company Secretarial matters and access to finance appear extremely daunting. AJR & Co Ltd have helped … Read more Business Start-Ups
The deadline to register for an online self assessment tax return for 2018/19 falls this weekend on Saturday 5 October. Last year, 700,000 taxpayers missed the self assessment deadline and faced penalties of up to £100 a day if they missed the online self assessment filing date of 31 January 2020. Who needs to register? … Read more Self Assessment Registration Deadline for 2018/19
There are a number of different reasons why an individual completes a self-assessment tax return, the main reasons are as follows: You are a company director who has income not taxed under PAYE You have income from self-employment You have income from savings and investments of £10,000 or more before tax You have annual income … Read more Self-Assessment Tax Returns
Value Added Tax (VAT) was first introduced in the United Kingdom In 1973. The standard rate of VAT increased to 20% in January 2011 and is one of the government’s largest source of revenue. Although the standard rate applies to most goods and services, a reduced rate of 5% applies to home energy, while the … Read more VAT Value Added Tax
What does being a sole trader mean? As a sole trader you run your own business as an individual and are self-employed. As a result this means that you can keep the profits made from the business after tax has been paid on them although in contrast you are personally responsible for any losses the … Read more Setting up as a Sole Trader
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