Important Updates about Limited Companies
Important Updates about Limited Companies If you operate your business with a limited company, then you are legally required to comply with certain requirements, and with effect from 4th March 2024, additional obligations are being introduced. These obligations are being introduced by virtue of the Economic Crime and Corporate Transparency Act 2023, and there are […]
HMRC’s “CONNECT” AI System
HMRC’s “CONNECT” AI System: The Digital Detective of UK Taxes. HMRC’s “CONNECT” AI system or you may call it a digital detective operating at the heart of the UK tax system. In recent years, the tax investigations have become far more targeted and data-driven, and the secret is HMRC’s “CONNECT” AI system. 1. What Is CONNECT? […]
UK Corporation Tax for Small Businesses
A Simple Guide to UK Corporation Tax for Small Businesses (And How to Claim Loss Relief) Running a small business in the UK? Then understanding corporation tax is super important. It’s one of those legal things you need to get right as a limited company — but it’s not just about ticking boxes. Knowing how […]
Benefits in Kind (BIKs)
Understanding Benefits in Kind (BIK’s) and How They Affect Your Pay At Super Financial Limited, we believe in helping you understand how your workplace perks impact your finances. Benefits in Kind (BIK) refer to non-cash perks provided by employers, and because these perks have a cash value, they are treated as taxable income by HMRC […]
The importance of claiming business expenses
Introduction: The importance of claiming business expenses Effectively claiming business expenses through your Self-Assessment return is a strategy for reducing your taxable profit and keeping more of what you earn. For whom is a self-assessment return necessary? Registration and Self-Assessment return are to be submitted in case you are a company director, self-employed (including sole […]
Foreign Entertainers Tax in the UK Tax System
1. Overview & Scope The United Kingdom enforces distinct taxation requirements on foreign entertainers and athletes who receive proceeds from events that occur on British soil. Non-resident entertainers along with athletes who earn payments for UK-based events must pay UK taxes on their appearance fees and competition earnings regardless of their residency status. 2. Withholding […]
Your Company’s Guide to Nailing ATED: Don’t Get Burned!
If your business owns a UK home worth more than £500,000, you might be hit with a tax you didn’t see coming: the Annual Tax on Enveloped Dwellings (ATED). Since 2013, this tax has been the government’s way of making sure companies with fancy homes pay up, stopping people from dodging personal taxes by owning […]