This is a very important and frequently asked question. The answer is that in the UK, you can have more than two businesses if you want. Setting up businesses as sole trader is probably the easiest business structure. It allows you to run your business and keep the...
Usually, the imbalance or a discrepancy in financial security that exists between different small businesses and self-employed workers leads people to consider changing from being a sole trader to becoming a limited company. After all, there are benefits of becoming a...
Most of the times taxpayers delay preparing their tax returns until the end of the year. The HMRC has been trying its best to encourage business owners not to wait until the festive winter period, but still, people seem reluctant. We at Tax Advisor UK are here to...
For people in business partnerships and sole traders, year end accounts and tax returns are the basis for the business owner’s self assessment tax return. In the case of a partnership, year end accounts state the balance on the individual partners’ current accounts....
Self assessment tax returns a balance tax that the assesse must pay on the income earned. It is a system used by HM Revenue and Customs or HMRC to collect income tax. It requires businesses and people to report their income in a tax return. In the UK, the simplest tax...
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