Owner-managed companies with profits in the region of £150,000 to £250,000 are facing a significant tax hike this year. However, the tax increase can be mitigated by the company making pension contributions into a director’s self-invested personal pension (SIPP). A...
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Don’t get caught in the VAT penalties net
The 50th anniversary of the UK’s introduction of VAT was earlier this year, but despitebeing around for a while, many VAT-registered businesses still find VAT too complexand confusing. No surprise then that more businesses than ever are getting hit withpenalties for...
Finalising returns figures and filing early
HMRC is chasing taxpayers who have submitted tax returns for 2021/22 containingunresolved provisional figures, while also extolling the benefits of filing early for2022/23. What are provisional figures?A provisional figure is not the same as an estimated one. An...