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DIVIDEND TAX The Chancellor has decided to cut the dividend allowance to £1,000 Dividends are taxed at much lower rates than other forms of income and they are not subject to national insurance contributions (NIC). This can make taking income from your own company in...

What's the difference between a Sole Trader and a Limited Company?    As a Sole Trader (often referred to as Self Employed), the business owner and the business is treated as one legal entity.  As a Limited Company the business is a separate legal...

VAT Registration VAT is a type of tax charged on goods or services by businesses that are VAT registered. If a business is VAT Registered, it charges it’s customers VAT on the goods or services it provides and can normally reclaim VAT on goods or services that it...

Making Tax Digital (MTD) - VAT Making Tax Digital (MTD) for VAT is part of HMRC’s plan to digitise the UK taxation system. Initially, MTD only applied to VAT registered businesses with turnover in excess of the VAT registration threshold (currently...