In the UK, a company registration number (CRN) is a unique identifier assigned to every registered company. It serves as a vital reference for identifying and tracking companies registered with Companies House, the official registrar of companies in the UK. The company registration number holds significant importance in various legal and administrative processes, and it … Read more
When running a business in the UK, it’s important to understand the expenses you can claim to reduce your taxable income and maximize your profitability. This article explores 25 common business expenses that you can claim in the UK, providing insights into the eligibility criteria, documentation requirements, and potential tax benefits associated with each expense. … Read more
Self Assessment is a tax system in the UK that requires individuals to report their income, capital gains, and other financial information to HM Revenue and Customs (HMRC). It is essential to understand the importance of submitting your Self Assessment before the deadline to avoid penalties and ensure compliance. This article explores the reasons for … Read more
The Statutory Residence Test (SRT) is a collection of rules used by the United Kingdom’s HM Revenue and Customs (HMRC) to assess an individual’s tax resident status. It helps in determining whether a person is a resident or non-resident for tax reasons. This article provides a comprehensive understanding of the Statutory Residence Test, including its … Read more
The introduction of Making Tax Digital (MTD) by HM Revenue and Customs (HMRC) has transformed the way businesses and individuals manage their tax affairs in the United Kingdom. MTD is a digital tax initiative designed to make tax administration more efficient, accurate, and streamlined. In this article, we will explore the reasons why individuals and … Read more
Registering for Self Assessment tax in the United Kingdom is a necessary step for individuals who have income that is not taxed at the source or who meet certain criteria outlined by HM Revenue and Customs (HMRC). It is a process that enables individuals to fulfill their tax obligations and report their income, expenses, and … Read more
Individuals in the United Kingdom who no longer need to file a tax return should deregister from Self Assessment tax. Someone may opt to deregister for a variety of reasons, including a change in work status, a fall in income, or no longer matching the conditions for self-employment. In this article, we will explore the … Read more
The HMRC (Her Majesty’s Revenue and Customs) mobile app is a useful app that allows individuals and businesses in the United Kingdom to manage their tax affairs conveniently from their smartphones or tablets. The app provides a range of features and functionalities that make it easier for users to access important HMRC tax information, file … Read more
The CT61 form is required in the United Kingdom for reporting and paying tax on certain interest and other yearly payments. It is typically utilized by businesses and organizations that make payments that are subject to tax deduction at the source. The CT61 form allows businesses to meet their tax responsibilities by deducting and paying … Read more
Deregistering from VAT (Value Added Tax) is a process that allows businesses in the United Kingdom to cancel their VAT registration. There are various reasons why a business may choose to deregister, such as ceasing trading or falling below the VAT threshold eligibility. In this article, we will guide you through the process of deregistering … Read more
