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If you're running a limited company in the UK, Corporation Tax is likely on your radar as it plays a fundamental role in the operation of your business...but the specifics might be a bit unclear. Understanding the intricacies of Corporation Tax is essential for business owners to accurately determine their tax liability and remain compliant.
Whether you're responsible for overseeing employee payrolls or handling your own contributions, managing National Insurance contributions is a notoriously complicated and time-consuming process for employers and the self-employed.
When you receive income from self-employment or other sources such as property or investments, HMRC requires you to complete a Self Assessment tax return to ensure you are paying the correct tax.
Taxes can be a complex and ever-changing landscape for both individuals and businesses. While tax preparation and tax planning are both essential components of sound financial management, they each play a unique role. Understanding the difference between these two can save you time, money and a whole lot of stress.
The Chancellor's Spring Budget on the 6th March 2024 unveiled a roadmap for the UK's finances, but what does it mean for you? We discuss yesterday's key announcements and how they might impact your finances.
The introduction of the new UK Research and Development (R&D) single scheme is set to restructure the way companies access funding for their work on innovative projects. The new scheme will provide a more cohesive and consistent system for companies of all sizes to access R&D tax relief.
If you're a business owner, you've probably heard the term "full expensing" but may not fully understand what it entails or its benefits. In this blog, we'll explore what full expensing is and how it can help reduce the tax burden on companies by providing tax relief on qualifying investments, ultimately offering both short and long-term benefits for UK businesses.
On 22nd November 2023, Mr Hunt presented the Autumn Statement 2023 alongside the Office for Budget Responsibility's (OBR) economic and fiscal outlook. The DSA Prospect team delves into the details of Chancellor Jeremy Hunt's recent Autumn Statement.