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You pay corporation tax when your company or association makes money from trading, earnings, investments, and other taxable gains. Such as the sale of company assets, including land and property, equipment and machinery, and company shares. All limited firms in the United Kingdom are subject to corporation tax.

Cryptoassets (also known as ‘tokens’ or ‘cryptocurrency’) are digitally secured representations of value or contractual rights that can be: transferred, stored, and traded electronically. The big question for crypto enthusiasts is whether cryptocurrency is taxable, and if so, what are the tax rates. We’ll take a look at the crypto tax of the UK and a few other things you need to know.

Every person employed or receiving PAYE income has a tax code that is assigned by the government’s tax collection agency (HMRC). You should know your tax codes assigned by HMRC since it tells your employer how much income tax to deduct from your pay.

Self Assessment is a way of collecting income tax used by HM Revenue and Customs (HMRC). Wages, pensions, and savings are typically taxed automatically. Individuals and businesses must report other income on a tax return. You must send a tax return before the self-assessment deadline to avoid incurring any penalties.

If you’re an investor or a business owner who receives dividends from UK companies or funds, it’s important to be aware of the dividend tax rates for the 2022/23 tax year. Dividend tax rates determine how much tax you’ll need to pay on the dividends you receive, and understanding these rates can help you to plan your investments and manage your tax liabilities. In this article, we’ll provide an overview of the dividend tax rates for the 2022/23 tax year, and explain how they work in practice. Whether you’re a seasoned investor or just getting started, understanding dividend tax rates is an essential part of managing your investment portfolio and your personal finance.

If you come to the UK, become a tax resident here, and have foreign income or gains (that is, income and gains from outside the UK) during your stay, you must follow more complicated tax rules. This is due to the UK tax system’s attempt to tax UK residents on their worldwide income and gains.

The UTR (Unique Taxpayer Reference Number) is a ten-digit number. It is unique to each user and serves as a reference to HMRC. Therefore, it is critical, especially when dealing with taxes. The UTR number is used for a variety of purposes, including claiming a tax refund and submitting a self-assessment, to name a few. In order to better understand, let’s go over how to register for your UTR number and take a closer look.

If you get a job or a pension and pay taxes via the Pay As You Earn (PAYE) system, you may end yourself paying too much in taxes. This is for a number of reasons. However, you can request a tax refund claim with the HMRC, and if they find you have paid more tax, you’ll be issued a tax refund.