UK Tax Legislation is a complex set of rules governing the taxation of profits or gains realised in the UK and other countries. It is advisable to get the advice of a tax professional if you are starting a trading or profitable activity in the UK. Certax Accountants have the necessary experience and knowledge to help you negotiate these rules with the result that any tax liability is minimised as far as possible.
Trading profits will all be subject to different tax rules dependent upon the entity generating those profits. Limited Company entities will have their profits subjected to Corporation tax, non-limited company profits will be subject to income tax. Gains realised from the sale of chargeable assets are subject to Capital Gains Tax. The different types of taxation are dependent upon the different types and nature of activities generating those profits. As such, these will have many allowances and reliefs available to reduce the overall liability.
Contact your nearest Certax Accountant for more information.