Monthly Archives: June 2017

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The difference between private and public businesses

A private company their shared are privately held and they do not trade them to any over business. The private business can be anything from being a partnership, a corporation, a sole proprietorship or a limited liability company. The difference…

What is a sole trader?

A sole trader is known as a person who is the main owner of the business. They an entitled to keep all of the profits because it is their business after all of the tax has been paid. But with…

Additional Medicare Tax 2017

If you didn’t know already, that you may be eligible for an Additional Medicare Tax if your income exceeds the limits that are in place. Any income that you get, this includes self-employment income, railroad retirements (RRTA) Compensation and your…

Working Tax Credits UK 2017 To 2018

Tax credits is income given to people that are on lower income than everyone else. There are 2 different types of tax credits. The first one is working tax credit and the other one is child tax benefit. These tax…

Accounting Periods For Corporation Tax

Corporation tax is always charged using its own system of accounting periods. The tax accounting period starts as soon as the previous tax accounting period has just ended and when the company starts trading or acquires a source of income….

How To Start A Business With No Money

If you ever thought that you can’t start a business with no money then you are wrong. There are many ways to start a business with no money. You have many options to choose from. If you have ambition and…

Income Tax Personal Allowance and Basic Rate limit

The people that are most likely to be affected by this is people who have pensions, who are employed and anyone who pays any income tax. Personal allowance is the amount of tax free income that each individual has throughout…

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Personal saving allowance

Personal saving allowance helps banks and building societies will stop deducting tax from your account interest and it helps people to not be tax on their savings interest. If you fall in the basic tax band then you will be…

How To Claim Tax back Refunds?

If you are owed for a tax return then to claim it, you would have to do it online if your P800 tax calculations letter says you can get it that way. You might be able to get a tax…

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How Tax on Savings Interest?

With your savings, you can always earn interest. Depending on how much there is in your account, the higher the amount the more interest you can get on it. And some saving you may be taxed on it but most…

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