Operational taxes are the taxes that businesses in the UK are required to pay on a daily basis. Value-added tax (VAT), payroll taxes, commercial rates, and corporation tax are some of these .

Types of Operational Taxes


Value Added Tax (VAT):

A tax on the value added at each stage of the supply chain is referred as value-added tax (VAT). The majority of goods and services sold in the UK are subject to it. Businesses that are VAT-registered are required to add VAT to their sales and are entitled to a reimbursement for the VAT they pay on purchases.

Payroll Taxes:

Payroll taxes are the taxes that organisations are required to pay on the wages of their employees. These include national insurance contributions (NICs) and income tax.

Business rate Taxes:

Non-residential properties like offices, retail stores, and factories are subject to business rates. The rateable value of the property determines the amount of business rates that must be paid.

Corporation Tax: ​​

A tax on the earnings of both domestic and international businesses with permanent operations in the UK. In the UK, the current corporation tax rate is 19%.

OUR SERVICES 

  • Payroll Services which include calculating and processing payroll taxes such as income tax and national insurance contributions.
  • Tax Planning/Offer guidance on tax-effective structures, exemptions, and reliefs.

Business rate advice:

Accountants will offer firms business rate advice, including how to reduce their liability for business rates.

Accounting firms will also assist businesses in preparing and filing their corporation tax returns as well as with other aspects of corporation tax compliance.

HM Revenue and Customs (HMRC) tax investigations and disputes can be handled by our  accountants on behalf of your businesses.

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