Tag: tax planning
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Sole Trader vs Limited Company — Which is Better for Tax?
Choosing between a Sole Trader and a Limited Company affects your tax, liability, and business structure. This guide breaks down the pros and cons, tax rules, and how to decide what’s right for you.
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Top Ways to Legally Pay Less on Your Self-Assessment Tax Bill
Nobody wants to overpay tax — especially when there are legal ways to reduce your bill. From expense claims to pensions and the Trading Allowance, here’s how business owners can pay less tax while staying on HMRC’s good side.
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Why Do People Leave Their Tax Returns Late?
Many business owners delay their tax returns until it’s almost too late. Here’s why — and how filing early can save you time, stress, and money.
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Self-Employed Pensions: How To Take Care of Future You
If you’re Self-employed, it’s entirely up to you whether or not you save for your retirement. Unlike employees, who benefit from workplace pensions, you’ll need to set up your own pension plan. There’s good news, though — the Government offers Tax Relief to help boost your pension savings. But how does this work? Let’s break…
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Capital Gains Tax on Property — What You Need to Know
Are you thinking of selling a Property? Whether it’s a second home, a Rental flat or a Property you’ve inherited, Capital Gains Tax (CGT) might be waiting around the corner. You can avoid surprise bills by understanding when CGT applies, how much you might owe and what reliefs are available. You might even be able…
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Understanding Trusts — What They Are and Why They Matter
When it comes to estate planning and protecting your wealth, Trusts are among the most powerful tools available. Many people shy away from them, though, thinking they’re only for the wealthy, or that they’re overly complicated. In fact, Trusts can benefit a wide range of people — from parents wanting to provide for their children…
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The Benefits of Proactive Tax Planning
Nobody likes a surprise tax bill. Whether you’re Self-Employed, a Freelancer or a Business Owner, proactive tax planning can save you money, reduce stress and keep your finances in check. Instead of scrambling to meet deadlines or dealing with last-minute tax shocks, planning ahead ensures that you take full advantage of whatever deductions, allowances and…
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Understanding Rental Property Expenses — What You Can Claim
Welcome to the world of Rental Property ownership. If you’re a Landlord or thinking about becoming one, it’s crucial to understand your business expenses if you want to maximise your profits and minimise your tax liability. Just like every business, owning rental property comes with its fair share of costs. In this blog, we’ll look…
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What You Need to Know About Property and Tax
Property can be a very attractive investment. Quite apart from the home you live in, you might be looking at a model where you buy, renovate and sell, making a substantial profit. Alternatively, you might prefer a longer-term investment that generates a regular rental income. Like any income-making model, though, it’s going to involve paying tax on…