Tax computation

Navigating the UK Tax Landscape for the Self-Employed: A Comprehensive Guide

BySarah CookFeb 25, 2024

Self-employed in the UK must decipher taxes, involving self-assessment, NICs, and understanding the tax year. Income tax calculations are based on taxable profits, falling under progressive tax bands and rates with a personal allowance. National Insurance is crucial for future benefits, with payments depending on income level and specific thresholds. Efficiently managing sellable assets and expenses can significantly…

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