What is income tax?
What is income tax? Income Tax is a tax you pay on your income. You do not have to pay tax on all types of income. Most people in the UK get a Personal Allowance of tax-free income. This is…
What is corporation tax?
What is corporation tax? Corporation tax is paid by businesses in the UK and is calculated on their annual profits. The corporation tax rate has been 19% for all limited companies since April 2016. Unlike individuals, companies don’t…
What is IR35?
What is IR35? The off-payroll working rules can apply if a worker (sometimes known as a contractor) provides their services through their own limited company or another type of intermediary to the client. An intermediary will usually be…
What is capital gain tax.
What is capital gain tax. Capital Gains Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. It’s the gain you make that’s taxed, not the amount of…
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