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The Benefits of Leasing A Car Through Business

What are the benefits of Leasing a Car Through your business? There is a dilemma among people whether they have to lease a new car personally or through my limited company. Let us discuss in detail regarding everything.

Who can claim the Business Mileage Rates?

Miles Allowance Relief (MAR) is a tax deduction available to workers who have paid business mileage rates. However, they have not been entirely compensated by their employer. Keep in mind that if you drive a business car, the regulations are different.

Directors Loan account – Things you need to know.

To get a loan from your firm, you must have the position of director, as the term implies. In layman’s terms, the Directors Loan Account is a financial account on the business’s books that records all transactions between the director and the firm. If the company owes funds to the director, you have to record it as a creditor in the business’s accounts. Whereas, if the director owes money to the company, you have to record it as a debtor.

The Dates of UK Tax year Everyone must know.

You can earn certain allowances and tax-free income during a tax year. Apart from those, you are entitled to pay tax on the income you generate across the tax year. Knowing the UK tax year dates can assist you in planning your personal financial budget and ensuring that any tax deadlines are met. It is crucial that you know the important deadlines for filing your tax return to avoid further penalties. For example, if you are working under PAYE, you may only claim back overpaid tax for the previous four tax years.

What is Payment on Account for Self Assessment

Payment on account for Self Assessment is tax payments made by self-employed taxpayers twice a year. In order to spread the burden of the future year’s tax.

Jobseekers Allowance UK : How to claim the benefit?

Jobseekers Allowance in the UK (JSA) is a benefit that is accessible to individuals who are currently pursuing a job. A fresh claim for New Style JSA is now the sole option.

How much Universal Credit can you get?

Universal Credit is a new monthly payment for individuals of working age who are not employed now but maybe in the future. If you are 18 or over and live in the UK, have no income or very little income and are not expected to work within the next six months. Then you can claim Universal credit.

What is Civil Partnership in UK?

A civil partnership in UK is a legally binding relationship that two people may enter into, which bestows upon them the rights and responsibilities of marriage. A civil partnership is not equivalent to marriage, but it can provide many of the same benefits. There are specific requirements for registering a civil partnership. For instance, partners cannot be related by blood or law.

Which inheritance tax form do you need to use?

Once you inherit or receive an inheritance. You have to complete the inheritance tax form within 6 months of the person’s death. While the UK has several types of inheritance tax forms available, not all are applicable for every individual. For example, individuals who have received an inheritance may only need the IHT205. You can easily complete this online with HMRC, as this is a straightforward declaration. Let’s take a look at the various UK inheritance tax forms and explore which one is needed based on individual circumstances.
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