How to do an Annual Audit for Small Businesses?
Definition of Annual Audit: As per the Cambridge Dictionary, audited accounts are company’s financial records that have been officially examined to check for their accuracy and an annual audit or [...]
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Benefits of Business Asset Rollover Relief for Small Businesses
What is Business Asset Rollover Relief? Rollover relief is a valuable relief for business and it gives you a window to escape paying the capital tax on your new assets, provided you have bought the [...]
What is Tenant in Common Agreement?
What is a Tenant in Common? Tenancy in common, also called as TIC, allows two or more people to have ownership in a property, wherein each owner has the right to leave his share of the property to [...]
Income Protection Insurance: How Much Does it Cost?
Introduction For UK citizens, Income Protection insurance can make available a consistent alternative income for an individual who, because of injury or illness, is unable to work. Usually, as per [...]
How do I Tax Second-Hand Car?
It is imperative to understand that when an individual is purchasing a second hand car, it is necessary to tax it at the point of purchase (sale) as tax is non-transferable. An individual can tax [...]
Tax Code 1185L –Tax Changes for 2018/19
In the UK, mostly everyone is eligible for a tax-free personal allowance Tax-free personal allowance means that a certain amount earned by an individual each year is paid without being taxed. For [...]
Types of Tenancy Agreements for Tenants
Overview An agreement between the property owner (landlord) and a tenant is referred to as Tenancy agreement. A Tenancy Agreement is also referred to as Assured Shorthold Tenancy Agreement (ASTA) [...]
Road tax and rates for second hand cars
Road tax and rates for second hand cars Road tax is a tax that every owner of a personal vehicle or car has to pay to the UK Government, depending on the carbon emission level their car has. It [...]
Environmental Taxes, Reliefs and Schemes for Businesses
Overview Environmental tax enables organisations or businesses in the UK to function in an ecologically conducive manner. These schemes and taxes vary for nature of business or organisation and [...]
How to avoid inheritance tax?
In the United Kingdom, as in various other countries, many people leave their properties or estates to their loved ones. The practice of giving away their properties after death is done by the [...]