Monthly Archives: July 2015

The importance of being an ethical taxpayer


Tax planning is a crucial element of any business strategy, which involves using the means available to legitimately reduce any duties owed. Tax relief, allowances, exemptions, expenses, and other tools are made available to minimise the amount of tax a company pays each year.

However, although tax avoidance is perfectly legal, it is viewed as unethical when Read more

How to deal with late payment


Every successful business needs to be financial stable. Cash flow is essential to a business, so it can pay its bills and plan the future strategy. All too often, disorganised businesspeople will claim to be Read more

UK vs US: Differences between HMRC and the IRS


Taxes are a fact of life all around the world and most countries have a system in place to collect what is owed from their citizens. However, many of these nations also have a tax gap, which is the difference between the total collected and the amount of tax actually owed.

The UK and USA have similar tax systems, with a payroll and returns that Read more

How to lower your Corporation Tax bill


All limited companies pay Corporation Tax on their profits, which include trading revenues, chargeable gains and investment income. The Corporation Tax bill is generally due to be paid nine months and a day after the company year ends.

Although you have to pay Corporation Tax on the firm’s profits, you can Read more