The so called IR35 Legislation came into force in the UK in April 2000. It seeks to tax freelance workers providing services via their own limited company. Its stated aim was to prevent employees setting up a limited company and performing their duties through that company with the resulting tax advantage. Generally it is more [...]
Capital Gains Tax (CGT) is a levy which may need to be paid when you sell certain types of asset, such as residential or commercial property, stocks and shares or other investments such as antiques, artwork – paintings, sculptures - and cars. Strictly speaking only individuals pay CGT but companies don’t escape as any gain they [...]
Corporation tax is the tax paid by companies on their profits. Unincorporated organisations (such as clubs and societies) also pay corporation tax, if they have taxable income. Partners in both traditional and limited liability partnerships and sole traders pay income tax instead. Companies are taxed on the profits made in an accounting period – normally [...]
