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If you are over 16 years and earning in the United Kingdom, you are required to make national insurance contributions (NIC). These contributions are taxed on self-employed profits and earnings. Unlike tax, these contributions are not charged from other income sources, including properties, pension, and......

The inheritance tax is paid out by a beneficiary of a deceased person who inherits property or cash. However, these taxes work differently according to the state and may be referred to as estate tax. A beneficiary can pay the taxes as soon as the......

If you run a small business, then you need bookkeeping services. This will help you to keep track of your finances and help you know whether you are making profits or losses. Plus, maintaining your financial records is part of regulatory compliance. It takes skill,......

Are you planning to start an investment in a pandemic? Do not worry, since there are various areas that can be safe for you to start a business and succeed. Researching can help experienced investors, new entrepreneurs, pensioners and mid-level professionals determine the right place......

Every citizen, no matter their financial situation, must pay the correct tax to the government. We all know that it is pandemic time, and everything has gone bad. However, the state expects the citizen to pay their dues and manage their finances well. Today, managing......

Every government all gets money to finance operations from various sources. One area that brings more cash taxing existing corporations. The corporate tax, which a company must pay on taxable amount, goes to the central kitty. In United Kingdom, news circulating is that this levy......

The UK left the European Union on 31st January 2020. After this exit, business continued as usual during this transition period until 1st January 2021 when new rules and regulations were put in place. Once these changes were put into effect, businesses had to make......

There are a series of tax changes that are scheduled to take place in 2021 that can affect businesses and/or individuals. It is essential that you know what these amendments are to avoid getting penalized. If you are wondering how will UK taxes change in......

The HMRC uses self assessment to calculate tax on income. In most instances, tax is automatically deducted from salary, pension and savings. However, if you have another source of income, you need to declare it and send this return once a year. If you are......

Tax investigations in your business are more likely to happen if the HMRC and HM revenue suspects that your tax returns are not accurate. The process is usually stressful, and when you find you are in such circumstances, take expert advice unless you are 100......