Tax

Companies and certain individuals are required by law to prepare tax returns for filing at HM Revenue and Customs. The rules are complicated and contained in Acts (letters of the law) and decisions made in court cases.

Use this section to obtain a basic understanding of the self assessment regime in UK. This regime passes the responsibility of the figures in tax returns to individuals and directors who sign them. Accountants will not be held responsible for errors in tax returns. Serious errors can lead to significant financial loss. Clever tax planning can lead to significant financial gains.

Under no circumstances is it wise to obtain tax advice from HM Revenue & Customs directly as the individual circumstances of each entity and individual need to be assessed before informed decisions can be made.  Registered tax agents are useful for this type of advice.

The HMRC website is packed with useful information.

# Article Title
1 Completing personal tax returns
2 BLC Tax
3 VAT Introduction
4 Recording VAT
5 Exempt Supplies
6 VAT on Imports