In running a business you need to account for business tax on your profits and the expenses/deductions you may claim against your income. During the tax year you must generally pay provisional tax, which is a series of instalments of income tax for this tax year. You pay income tax on your net profit for the year. To work out your net profit, deduct your business expenses from your income for the year.
The Tool for business helps you get all your small business tax issues sorted quickly and simply.If you're in business, you'll need to complete and send us an income tax return, and attach either a copy of your financial records or a form that summarises your income and expenses. Learn here the type of income tax returns you can use depending on the type of business you have
Most businesses incur expenses when generating income and most of these can be deducted from its income to arrive at its net profit or taxable income. It is on this amount that you pay income tax. Certain business expenses that are paid for out of business income cannot be claimed as allowable business expenses.
business Tax
The Tool for business helps you get all your small business tax issues sorted quickly and simply.If you're in business, you'll need to complete and send us an income tax return, and attach either a copy of your financial records or a form that summarises your income and expenses. Learn here the type of income tax returns you can use depending on the type of business you have
Most businesses incur expenses when generating income and most of these can be deducted from its income to arrive at its net profit or taxable income. It is on this amount that you pay income tax. Certain business expenses that are paid for out of business income cannot be claimed as allowable business expenses.
business Tax
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