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HM Revenue and Customs (HMRC) is the UK government agency responsible for collecting taxes and enforcing tax laws. The department was formed in 2005 following the merger of Inland Revenue and HM Customs and Excise. HMRC’s primary duty is to make sure that individuals, businesses, and...
Inheritance tax (IHT) is a levy that is paid on the value of an estate when someone passes away. The tax is generally paid by the beneficiaries of the estate, but it can also be paid by the executors of the estate. Recently, HM Revenue...
Facing a tax bill that you can't pay can be a stressful and overwhelming situation. However, there are steps you can take to address the issue and avoid penalties and interest charges. First and foremost, it's important to file your tax return on time, even if...
Making Tax Digital (MTD) is a government initiative in the United Kingdom that aims to modernize the tax system and make it more efficient and easier for individuals and businesses to comply with their tax obligations. The main goal of MTD is to reduce the...
Accountants play a crucial role in the financial world, providing services such as tax preparation, financial statement analysis, and budgeting. As such, many people wonder if accountants need to be registered in order to practice their profession. The answer to this question depends on the...
It is unfortunate that many businesses die within the first five years of their incorporation. Certain challenges that your business faces during its teething period as well as poor decisions may bring it to its knees. Thus, it is worthwhile to seek business support and...
This guide is aimed at helping those who are interested in services for self assessment accountants. For businesses and individuals who want to find out about self assessment accountants in Bury, it is possible to find a number of options available. The following paragraphs outline...
Tax time can be a busy time of the year, but by properly preparing for next year's tax season, you will likely feel much more prepared for any issues that happen to arise. A knowledgeable tax expert can provide you with the guidance you need...
Companies are required to stay on top of its administration and management of financial records. Small business bookkeeping in Bury offers short and long term benefits including improvements in organization of finances and tax, professional maintenance, and cost effectiveness. A closer look at the supportive...
A directors' loan refers to finances taken from the accounts of a firm and cannot be classified as legitimate expenses, dividends, or monthly salaries. The responsible officials have to pay these debts. Before making repayment, company officials ought to ask themselves, directors' loans - which...