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Tax on Crypto Currency Cryptocurrency has become a popular investment option in recent years, with the rise of Bitcoin and other digital currencies leading the way. However, the tax implications of holding and trading cryptocurrency can be a minefield. In the UK, cryptocurrency is subject to capital gains tax, and in some cases, income tax…

The Right Business Structure for You Starting a business can be an exciting and challenging time. Choosing the right business structure is an important decision that can affect the success of your business. In this article, we’ll explore the most common business structures in the UK and help you understand the advantages and disadvantages of…

Do Employees Need to Complete a Tax Return? Most of the time you do not need to complete a self assessment tax return if you are employed and have no other sources of income. However, there are exceptions to this such as: That’s why we’ve put together this guide to help you understand everything you…

An Introduction to VAT in the UK Value Added Tax, or VAT, is a tax imposed on the sale of goods and services in the United Kingdom. Understanding the different VAT rates, exempt supplies, and the domestic reverse charge for VAT is essential for businesses owners to prevent fines and penalties from HMRC. The Standard…

What is Marriage Allowance? Marriage Allowance is a UK government scheme that enables married couples or those in a civil partnership to transfer a portion of their personal allowance to their partner. This tax relief can result in substantial savings for eligible couples, making it an attractive option for those looking to reduce their tax…

Personal Tax and National Insurance Rates 2022/2023 Are you searching for the latest information on UK income tax, national insurance, and dividend tax rates for the 2022/2023 tax year? Look no further! In this article, we provide a comprehensive guide on these tax rates to help you stay informed and plan ahead. Income Tax Rates…

As a business owner in the UK, staying informed about corporation tax is crucial for your success. Corporation tax is a tax on the profits earned by your business and is an essential component of the UK’s tax system. In this article, we’ll provide a comprehensive overview of the corporation tax rates for the 2022/2023…

Budget Update 2021 – Things to know Rishi Sunak’s budget update included many of the points that were expected, but also some curveballs that no one saw coming.  Below we have detailed some of the key points from the budget and how they will impact you and your business.  Furlough Scheme The furlough scheme has…

Are you self employed, have investment income or rent out a property? If so, you have until 31st January 2021 to file your tax return and pay your tax liabilities on any income received between 6th April 2019 and 5th April 2020. What Information Does My Accountant Need for My Personal Tax Return? At Edwards…

Our philosophy is that every business is different and therefore a blanket approach to accounting services to all of our clients just does not work. Although every business is different there are some common mistakes that new business owners make. Starting a new business can be a daunting proposition and when data shows that 4…