If you form a partnership, you must register it separately with HM Revenue & Customs even if the partners have previously been self employed. If the partners are new to business, they must also register individually. Partnerships are registered with a dedicated HM Revenue & Customs partnership team, based at Longbenton near Newcastle.
Real Time Information is now in operation. But why pay more tax and NI contributions than you need to? We can help you to minimise your liabilities, while ensuring that you comply with your obligations. Just view our PAYE and NI guides to find out more.
For many years, people leaving jobs to become self-employed were advised to instead set up one man companies to provide their services; offering the security of a limited liability company and significant national insurance savings. We offer a brief introduction into IR35.
Tax planning is the legal process of arranging your affairs to minimise a tax liability, and with more than 200 such provisions specifically written into tax law, there are many areas in which planning can deliver tax savings.
It is a fundamental part of the self assessment system that responsibility lies with you, the taxpayer, to file tax returns and pay the correct amount of tax, and before the payment deadline - you must not wait for HM Revenue & Customs to ask.
Planning to minimise the liability to IHT is a team effort involving you and your professional adviser. To enable long-term planning to be set in place, it is important to carefully consider your planning options before making decisions about your financial planning and the distribution of your estate.
These tax credits replaced Working Families' Tax Credit, Disabled Person's Tax Credit and Children's Tax Credit and the child-related elements of Income Support and Jobseeker's Allowance. These operate until 2014 for existing claimants.