Your UK residence status affects whether you need to pay tax in the UK on your foreign income. For example, non-residents only pay tax on their UK income – they do not pay UK tax on their foreign income. Whereas UK residents normally pay UK tax…
Month: September 2020
VAT deregistration strategy
If you are presently registered for VAT but your turnover has dropped below £83,000 you could deregister for VAT. However, you do not have to deregister. Disadvantages and advantages of deregistration If you buy significant amounts of goods and services that include a VAT charge,…
Redundancy pay
If you are faced with making employees redundant, the terms that determine the amount payable may be written into your staff contracts of employment. Otherwise, employees will normally be entitled to statutory redundancy pay if they have been working with you for two years or more.…