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Business guides and resources

Expert guides and advice to help you run your business

What is the Start Up Loans scheme and how does it work?

What is the Start Up Loans scheme and how does it work?

The Start Up Loans program was introduced to encourage entrepreneurship in the UK and provide easier financing access to new businesses.
For those eligible, this government-backed personal loan offers borrowing of up to £25,000 along with a repayment plan at a fixed interest rate of 6% per annum, over a period of 1-5 years.

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How cryptocurrency is being taxed in the UK?

How cryptocurrency is being taxed in the UK?

It is estimated that more than 3 million people in the UK currently own a cryptocurrency. Since 2008, over 9 million Brits were engaged in purchasing a crypto coins.
As digital currencies become increasingly popular with both individuals and businesses, one must be aware of the tax requirements involved with investing in cryptocurrencies.
In this article, we’ll explain in which circumstances cryptoassets are taxed in the UK.

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Claiming for pre-trading expenses from your limited company

Claiming for pre-trading expenses from your limited company

Starting a new business may involve some costs. You may need to pay for a number of products and services before your limited company is actually formed.
In this guide, James Leckie – who runs ITContracting.com – looks at some of the typical expenses you will incur prior to company formation, and explores the conditions you need to meet to reclaim such costs.

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UK dividend tax rates and thresholds for 2021/22

UK dividend tax rates and thresholds for 2021/22

If you’re setting up a limited company you’ll no longer be on someone else’s payroll, so you will need to understand how to extract money from your company.
In this article, we’ll explain how your dividend income and salary is calculated in relation to the 2021/22 dividend and tax allowance rate.

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How to reduce your Capital Gains Tax bill?

How to reduce your Capital Gains Tax bill?

It is quite common to assume that Capital Gains Tax (CGT) only affects professional investors or large corporations but that isn’t really the case.
CGT will normally be applied to gains made from the disposal of your personal assets. Whether it is a property you’ve recently sold or a profit made from your crypto assets, these gains could be liable to Capital Gains Tax.
In this guide, we’ll explain how Capital Gains Tax works and how you could potentially reduce your next tax bill.

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Self-Assessment 2021 – Important Tax Rates and Deadlines Explained

Self-Assessment 2021 – Important Tax Rates and Deadlines Explained

With the deadline for submitting your Self-Assessment Tax Return just around the corner, it’s a good idea to start getting your finances in order so that you don’t have a last-minute panic.
It really doesn’t need to be this difficult, particularly if you keep your finances up-to-date throughout the year. Here we explain more about what’s involved.

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