The start of the 2024-25 tax year is almost here. It is important to understand any changes to UK tax rates and allowances because this allows you to make the most of the opportunities available to you. This applies to your business, and for you personally.
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 readingHB 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 readingGiven current tax rates, paying a dividend rather than a salary will often be a more cost-effective way of withdrawing profits from a company.
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