Tel: 0161 272 0527 Mob: 07584 176 724 | Email: info@northwoodaccountancy.co.uk
When running a business, it's important to have a trusted accountant who can help manage your finances and provide strategic advice. With so many accounting firms and professionals out there, it can be difficult to know how to choose the right one for your business....
PAYE tax is an acronym for "Pay As You Earn" tax. It is the tax that is deducted from the salaries of employees before they receive their take-home pay. The UK government uses this system to collect income tax and National Insurance contributions (NICs) from...
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...
Completing taxes online is a convenient, efficient and accurate ensuring your finances are in order and within a timely manner. Utilising a secure system to complete and update personal taxes provides the opportunity to focus your time and efforts elsewhere. Learn the reasons to use...
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...
The majority of directors in the UK are paid salaries to effectively run the operations of companies. Before settling for an appropriate salary amount, top officials in companies should consider the most suitable amount. These leaders ought to ask themselves, what is the most tax...
The taxation of vehicles is created in such a way as to promote the use of automobiles that are low-emitting. Directors and other employees who enjoy company vehicles have met significant tax charges, more so for cars aspirated normally. Electric vehicles have become an attractive...
A gift is offered to someone without expecting something in return. In such a case, it seems implausible that a gift would cause capital gains tax liability. Therefore, gifts - beware capital gains tax may be payable. While the person receiving the gift will generally need...