Making Tax Digital for Income Tax Self-Assessment becomes law on 6 April 2023 and aims to make tax accounting easier for businesses and individuals such as sole traders by legislating the digitalisation of tax data and submission.
Continue readingTag Archives: income tax
UK Tax Rates for 2021/2022
HB Accountants have produced a Tax Card which summarises many of the rates and allowances fundamental to your business and personal lives. It’s a great point of reference throughout the coming tax year and contains lots of information on personal, business, employment, property and capital taxes, including any changes.
Continue readingDirector’s salary or bonus?
Given current tax rates, paying a dividend rather than a salary will often be a more cost-effective way of withdrawing profits from a company.
