It is crucial for individuals and businesses operating in the Cryptocurrency space to understand exactly which Cryptocurrency transactions are taxable. Whether it’s Cryptocurrency received as employment income, mining rewards, buying and selling tokens, exchanging Cryptocurrencies, using them for payments, or giving them as gifts, each transaction may have tax implications.
Deciding between a sole trader and a limited company depends on several factors, such as your business goals, the level of control you want over your business, your personal financial situation, and the potential risks and liabilities of your business…
As we are approaching the reporting of expenses and benefits in kind for the 2022/23 tax year. We wanted to highlight an important employer development – the online P11D submission. For existing employers who already submit the P11D and P11D(b) returns online, there...
As a Director of a Limited Company, it’s essential to pay yourself a salary and dividends in the most tax-efficient way possible. In the UK, tax rates and allowances are subject to change each financial year, making it crucial to stay up to date with the latest...
When a business incurs expenses, it is either capital or revenue (trading) expenditure. Expenses which are classed as capital expenditure, normally have a lasting benefit for the business (at least longer than a year). Revenue expenses on the other hand, usually...
This is the question we are often asked by small business owners and if you have recently launched a new business, you might also wonder the same. So, let’s explore the ins and outs of this key area of tax legislation, including the essentials such as when you must...
