Frequently Asked Questions

A property company pays lower corporation tax, allows tax-deduction expenses, and offers better inheritance tax planning for landlords compared to personal property ownership.

Claim all allowable expenses, use VAT schemes, invest in pensions, claim R&D tax credits, and structure income tax-efficiently with salaries, dividends, and allowances.

Salaries have income tax and NICs, while dividends are taxed at lower rates without NICs. A mix of both helps maximise tax efficiency.

Use the remittance basis, structure assets efficiently, claim double taxation relief, and carefully manage UK income to minimise UK tax exposure.

You can claim a refund through HMRC if you’ve overpaid tax due to job expenses, emergency tax codes, or PAYE miscalculations.

A company pays lower corporation tax, allows deductible expenses, enables income splitting, and provides tax-efficient reinvestment options for business owners.

VAT (Value Added Tax) is a consumption tax applied to most goods and services. Businesses with a taxable turnover exceeding £90,000 over a rolling 12-month period must register for VAT with HMRC. Businesses can also choose to register voluntarily if their turnover is below the threshold. Voluntary registration can be beneficial, as it allows businesses to reclaim VAT on expenses and enhance their credibility.

Make early gifts, use trusts, claim exemptions, donate to charity, and invest in IHT-efficient assets like AIM shares or business relief schemes.

Self-employed people, landlords, company directors, and those with untaxed income must file a tax return with HMRC each year.

The UK tax year runs from 6 April to 5 April the following year for businesses.

Paper returns must be submitted by 31 October, while online returns and payments are due by 31 January.

Paper returns must be submitted by 31 October, while online returns and payments are due by 31 January.

VAT returns are usually filed quarterly, but some businesses may file monthly or annually, depending on their scheme.

Use the annual exemption, claim reliefs (e.g. PPR, Business Asset Disposal Relief), reinvest with EIS/SEIS, and time disposals to reduce tax liability.

Qualify as a non-dom, track overseas workdays, maintain separate bank accounts, and file a tax return with detailed records of foreign income.

File a tax return showing CIS deductions, claim expenses, and request a refund from HMRC if overpaid. Keep accurate records for faster processing.

Corporation tax is a tax on company profits. Limited companies must pay 19-25% on their taxable profits.

Corporation tax must be paid nine months and one day after the end of the company’s accounting period.

Capital gains tax is paid on profits from selling assets like property, shares, or businesses above the tax-free allowance.

The rate depends on your income and the asset sold. Basic rate taxpayers pay 10-18%, while higher rate taxpayers pay 20-28%.

Inheritance tax is 40% on estates over £325,000. There are exemptions and reliefs for passing assets to spouses or charities.

Tax relief reduces your taxable income. It applies to pension contributions, charity donations, and business expenses.