Viewing posts in category 'tax tips'

Value Added Tax

VAT for small businesses

What is the definition of VAT?

Value Added Tax is a tax that suppliers of either goods or services charge on top of the cost of the goods or service and is something often handled by a specialist business accountant. There are four different VAT categories depending on the type of goods and services supplied.

Who is exempt from paying VAT?

Education, finance, insurance, doctors and d… Continue Reading
Posted By Philip Woolfson
paying less tax

Paying Too Much Income Tax?

Why you might have a wrong HMRC tax code

One of the most common reasons for paying too much income tax is that you have been assigned the wrong tax code. This can happen for a number of reasons such as when you change jobs and your new employer does not have the correct code so an incorrect or sometimes a temporary code is allocated to you. If you have returned to the UK from working overseas y… Continue Reading
Posted By Philip Woolfson