Council Tax, introduced in April 1993, is a tax levied by local authorities (councils) on domestic dwelling all through the UK, and is based on the estimated value of dwellings and the number of people residing in it.
Professional Indemnity Insurance (PII) is important for individuals who are engaged in some form of professional service or provide professional advice to their clients.
It is not necessary to have a prior three (3) year account for a contractor mortgage. There is a myth that a person needs to be in a role for a substantial period. Contractors have been able to put together a mortgage based on the contract rate.
Employment tribunals facilitate decision making regarding employment disputes. Employment disputes that are not resolved at the workplace or cases which have a legal binding are heard at the employment tribunals.
Businesses must register with Companies House to set up a private limited company, also known as "incorporation"
Businesses must register with HMRC for Value added tax (VAT) if the VAT taxable income is greater than £83,000. The business receives a VAT registration certificate when they register with HMRC.
To support the families with children, Her Majesty's Revenue and Customs (HMRC) pays Child tax credit (CTC) to them. In addition to the child benefit, a family receives the Child tax credit and they can claim it irrespective of the fact
There are certain exemptions or income from certain source that fall under the non-taxable bracket. Also, income tax liability does not have any age criteria. The only thing that matters is the income earned and if the income is below
Setting up as a sole trader or self employed or freelancer is the easiest and quickest way to starting a business. Top guide to know how DNS can help you
The take home pay is the amount an individual gets, post deductions, from the employers at the end of each payroll period in their bank account. The payroll period may vary from employer to employer.