484 results for "self assessment"
What is a CIS tax deduction?
A CIS tax deduction is a payment withheld from a subcontractor's pay by contractors and sent to HMRC to cover tax obligations.
Basis period – Taxfix Taxopedia
The basis period is the period on which a sole trader calculates their tax each year. You calculate income and expenses during this period.
LP10 letter – Taxfix Taxopedia
An LP10 letter is a letter sent by HMRC that instructs your short-term employer or contractor not to deduct tax from your earnings.
Unlimited liability
Unlimited liability means that the owner(s) of a business is personally responsible for any debts the business racks up.
Fiscal year? – Taxfix Taxopedia
The fiscal year is the same thing as the “tax year”. In the UK it runs from 6 April one year to 5 April of the following year.