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7 things to keep in Mind during setting up your Company Accounts

Running a business involves not just selling products or providing services but also keeping track of its finances. It is essential to maintain accurate and up-to-date company accounts. In this article, we will discuss how to manage company accounts in the UK, including what is CT600, expenses that can be claimed, some allowances like mileage allowances, capital allowances, the deadline for submission, fines for missing the deadline, and whether you need to submit company accounts multiple times.

What you need to know about Home Office Allowances?

The Home Office Allowances is a fixed amount. Which any self-employed and anyone operating from their home can claim. This is possible via a method called as simplified costs, and the amount of Home Office Allowance you may claim is determined by the number of hours you work from home each month. Moreover, in comparison to manually calculating all of your company charges, this approach is a simpler means of claiming home expenses.

Understanding the Benefits of Capital Allowances 

Are you familiar with capital allowance deduction and the benefits it can bring? If the answer is no, then you’ve come to the right place. In this blog post, we’ll explain what capital allowance deductions are and how they can benefit your business. We’ll discuss the different types of capital allowances and how you can use them to your advantage. Let’s start and learn more about capital allowance deductions!

Can a Trust be used for Inheritance Tax Avoidance?

The UK levies an inheritance tax on the assets of a deceased person that their beneficiaries pass on. It is a tax that can significantly reduce the wealth passed on to loved ones, and it is important for individuals to consider ways to minimize its impact. One strategy that can effectively reduce the burden of inheritance tax is using a trust. In this article, we will explore whether you can use a trust for inheritance tax avoidance.

Exploring the Basics of Trust Income Tax

A trust is a means for individuals to manage their assets (money, investments, land, or buildings). There are several sorts of trusts, each of which is taxed differently. So, if you are planning to begin a trust, it is important to understand the trust income tax rates and laws applicable.

How to Calculate Capital Gains Tax for Shares in the UK

Are you looking to understand how capital gains tax works for shares in the UK? Capital gains tax is an important consideration for people investing in stocks and shares, and understanding the basics can help you make the most of your investments. If you’re a shareholder in the UK, you may be liable for capital gains tax on any profits you make from selling your shares. To calculate your capital gains tax, you’ll need to first work out your ‘gain’. The good news is that there are a number of exemptions and reliefs available which could reduce or even eliminate your capital gains tax bill. This article will explain the basics of capital gains tax and how it applies to shares in the UK.

All You Need to Know About Capital Gains Tax on Property Transactions

Capital gains tax (CGT) is a tax levied on the profit or gain realized from the sale or disposal of a capital asset, such as property. In the United Kingdom, CGT is payable on the sale or disposal of a property that is not your main residence. Or on the sale or disposal of any other type of capital assets, such as shares or investments. The amount of CGT you will be required to pay. This will depend on your total taxable gains for the tax year. Your tax rate, and your available allowances and exemptions.

Foreign Income Tax : What you need to know

Do you have income from sources outside of your home country? If so, it’s important to be aware of the tax regulations that may apply. In this blog article, we will discuss foreign income tax and what you need to know in order to comply with the applicable laws.

Can I use my Rental Income for Mortgage?

If you’re looking to buy a property in the UK, you may wonder if you can use rental income to qualify for a mortgage. The answer is yes. You can use rental income to qualify for a mortgage in the UK. There are a few things to keep in mind:
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