Taxes and devolution: what small businesses should know

Written by Kate Kate , 2 January 2019 in Taxes

British politics can be confusing; from budgets to Brexit, there’s a lot to keep track of. To make things even more complicated, political decisions are made in a number of different places and can affect different parts of the UK.

While legislation has traditionally been passed in Westminster on behalf of the entire country, things are changing. Over the past few years, the British Government has transferred power away from the Houses of Parliament and towards national governments through a process known as devolution. The aim of devolution is to give Scotland, Wales, and Northern Ireland more control over their own affairs - including taxes.

Taxes and devolution in the UK

... continue reading: Taxes and devolution: what small businesses should know

Self-employed in Ireland: A guide to your taxes (Part 2)

Written by JackJack, 27 December 2018 in Ireland Taxes

In the first part of our tax guide, we covered what you'll need to be able to pay taxes, as well as how and when you'll pay them each year. For part two, we'll look at what a tax return is made up of- Income tax, Universal Social Charge, and Pay Related Social Insurance. We'll also touch on Tax Credits, and a little about VAT. So, diving in...

... continue reading: Self-employed in Ireland: A guide to your taxes (Part 2)

Self employed in Ireland: A guide to your taxes (Part 1 of 2)

Written by JackJack, 19 December 2018 in Ireland Taxes

I know, I know - it isn't the most exciting of aspects when it comes to running a business, but unfortunately it has to be done.

person holding pencil over a piece of paper with the word tax written on it

As there’s a lot ot get into, this topic will be split into two parts. In this post we'll go over the criteria for filing a self assessment tax return (or in the few cases that you don’t need to), and the method for self-assessment.

If you already know how self assessment works, but want to find out a bit more about how it all comes together, then in Part 2 we’ll have a closer look at a breakdown of each tax component: Income, Universal Social Charge (USC), Pay Related Social Insurance (PRSI), Value Added Tax (VAT), and about Tax Credits.

... continue reading: Self employed in Ireland: A guide to your taxes (Part 1 of 2)

The taxes you'll pay as a freelancer or entrepreneur

Written by Kate Kate , 6 December 2018 in Taxes

When you start a business, you take on a whole host of new responsibilities, including managing your company taxes. It's safe to say that this isn't the most exciting part of running a business, but it is important to take the time to understand the tax process.

The UK has many different taxes that could affect small businesses - some of which you’ll have definitely heard of and some that are more obscure. To make the tax process easier to understand, we explain some of the main taxes you’ll need to take into account as a freelancer or entrepreneur, and how they can be managed with invoicing software.

Debitoor invoicing and accounting software makes it easy for freelancers, entrepreneurs, and sole traders to keep on top of company taxes

... continue reading: The taxes you'll pay as a freelancer or entrepreneur

Tax 2.0

Written by WhitneyWhitney, 14 April 2016 in Taxes

With plenty of promise and forewarning, HMRC will begin unveiling their new digital platform for individuals and small businesses this month.

The intention behind this initiative is to simplify the filing of tax in the UK, streamlining the process and providing a single platform for tax filing and information.

hmrctax_blog_14-04-2016.png

This new process has been touted as a modernisation of tax management. By providing individuals and businesses with their own online account, all information necessary for tax filing will now be saved and ready for filing.

... continue reading: Tax 2.0