UK TAX ADVICE

TAX CONSULTATION IN UK

UK business taxes:

• corporate tax (19%);
• value added tax (VAT). The standard tax rate is 20%, for certain goods and services – 5% (for example, children’s car seats);
• business tax on tenants of non-residential premises (in some counties);
• tax on income from fuel production (for oil and gas producing companies);
• income tax from the sale of fixed assets (only for private entrepreneurs and trust funds);
• excise duties on petroleum products;
• annual excise tax on trucks, taxis and buses.

Taxes for individuals in the UK:

• Income Tax – income tax. The tax rate depends on the annual income and is set in the following amounts:
• 0% – if annual income does not exceed £12,570
• 20% – if annual income is between £12,571 and £50,270
• 40% – if annual income is between £50,271 and £150,000
• 45% – if annual income exceeds £150,000
• Capital Gains Tax – tax on capital gains. Capital gains are profits from the sale of capital assets, such as real estate, financial assets (stocks, bonds, etc.). Capital gains tax is charged at a standard rate of 19%.
• Stamp Duty – stamp duty when buying real estate
• National Insurance Contributions – deductions to pension and insurance funds. For employees, the amount of the tax is 13.25% of earnings, for employers – 15.05%.
• Inheritance Tax – inheritance tax
• Council tax – municipal tax for street maintenance, garbage removal, etc.
• annual excise tax for owners of personal vehicles (if the car was manufactured after 1973)
• tax on residential buildings (in some counties of Great Britain)

Optimizing taxation in the UK

Any business, and even more so a newly created company, needs the professional help of lawyers in matters of tax optimization. Legal tax optimization solutions are what we specialize in. We will help you save money so that your business develops quickly and brings profit.

A tax lawyer (solicitor) in the UK will help you choose the optimal tax system for your business in the UK.

What is included in the duties of a tax lawyer of Prykhodko and Partners law firm:

• Consulting on taxes in UK;
• Calculation of taxes in UK;
• Preparation of tax documents in UK;
• Tax representation in UK;
• Settlement of tax disputes in the UK.

Representation in the tax authorities in Great Britain by Prykhodko and Partners law firm includes consulting, preparation of all necessary documentation, relations with the tax authorities of Great Britain on issues of Corporate Tax, VAT, Income Tax, National Insurance Contributions, etc.