Corporation tax is the tax that UK companies pay on their taxable profits not the profit reported on the financial statements. Taxable profit is the profit after claiming deductable expenses and other deductions that are allowed to be claimed.

An investment property is real estate property purchased with the intention of earning a return on the investment either through rental income, the future resale of the property, or both. The investment property purchased for renting out purpose is usually called as ‘Buy-To-Let’ (BTL) in the UK. The property may be held by an individual investor, a group of investors, or a corporation.

VAT is short for Value Added Tax. It is one of the most important taxes in the UK. VAT is a tax collected by the seller, but ultimately paid by the consumer. It is a very important source of tax for the UK. The state provides public infrastructures for the creation of goods, so it is necessary to collect a part of tax, so that it can better benefit the people in the

This article gives a general guidance on employers’ three main responsibilities and how payroll works in the UK, including taxation, national insurance contribution and pension. Some figures such as basic personal allowance and employment allowance could vary from year to year. Unless otherwise stated, the following figures apply from 6 April 2022 to 5 April 2023.