Ben williams

As of April 1st 2011, the rate of tax levied on Limited Companies (corporation tax) is the same as the basic rate of income tax – 20%. National Insurance Contributions were increased, and the increases, mainly in Class 4 National Insurance, should prompt sole traders to review their business structures and look into how they can reduce the amount of tax that they pay.

Before the rate of Capital Gains Tax (CGT) was raised from 5% or 10% to 18% or 28%, small businesses were promised some sort of concession would be announced. We were expecting a form of retirement relief to be announced, but a brand new"Entrepreneur's Relief" was introduced instead.

VAT first came into force in 1973, and was introduced by Lord Barber, who was then the chancellor under Sir Edward Heath. It started off as a simple 10% tax on nearly all goods bought from a business. Since 1973, VAT has swollen in size, complexity and popularity.

You may ponder exactly how there can possibly be one, let alone ten fascinating things about VAT! but you would be mistaken! This article enlightens you with such knowledge as well as detailing the staggering difference in the Standard VAT rate for those countries inside and outside the EU.

You may get a form from HMRC (HM Revenue and Customs) telling you that you've paid either too much, or too little tax for the tax years 2008-09 and 2009-10. The calculation shows your total income and the allowances that are due to you for each of these years. If you don't get one, don't worry – not everyone will, just those who have under or overpaid their tax.

The simple answer is yes. Think of it this way; why would you want to pay two separate companies for a service that you can get from one?! It's insane! For the price of your normal accountancy bill, if you choose the right accountant, you can get both accountancy and business development services for the price of one!

The Government have announced changes to the way your income is taxed. At the moment (2010-11), there is a personal allowance of £6,475 that can't be taxed. The basic rate is for all incomes between £0 and £37,400 and is taxed at 20%. The higher rate is for incomes between £37,401 and £150,000. Since 2010-11, there has also been an additional rate for any income over £150,000 and is charged at 50%.

We want to share with you the most effective & powerful ways to immediately grow your business, and bring in more customers. We've designed this Essential Principles Series with one specific goal; to give you direct access to the proven methods that any business can implement immediately to bring in significant numbers of new customers, and create substantial increases in profit. These aren't theories; these are exactly what the most successful businesses are doing right now.

This is where you can learn all about Corporation Tax - what it is, the rates, who needs to do it, what you need to do for it, submitting online, what an 'accounting period' is, and how to work out your taxable profits. Corporation Tax is a tax on the taxable profits of not only limited companies, but also other organizations, such as clubs, societies, associations, and other unincorporated bodies.

There are many Accountants in Brighton, each with their own unique selling point. The point of this post is to show you what some of the Accountants do, and how Keepers go that step further.