Tax Services

L&S Accounting Firms capable tax advisors can effectively handle all of your tax issues and help you stay on top of all of your payments. 

We will represent you before the relevant tax body and ensure that all of the services are provided in a professional manner. 

We will help you understand what taxes are, why we pay them and the different types of taxes you may be charged

Tax Services

Tax Services

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Income Tax

The standard tax you pay on your earnings that goes to the government. If you are self-employed you will pay taxes and the profit that you make. 

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Payroll Tax

This type of tax is not applied in the United Kingdom. If you are based internationally, please check your own governments' website.

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Corporate Tax

Corporate taxes are taxes that are being put on top of the company's profits. The normal rate for United Kingdom is usually 19% per financial year. 

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Sales Tax

Sales Tax in the United Kingdom is called the VAT. The VAT is applied to all products and services sold - currently that is 20%.

Property Tax

In other words, Stamp Duty Land Tax. The SDLT is a tax system where a person pays interest on buying a residential property or a non residential land. This only applies when you are buying a property on a land that is over £150,000. 

Tariff Tax

Tariff Taxes are taxes which are being paid on all imported good into your country.

Inheritance Tax (Estate Tax)

Paid on the estate of someone who has died including possessions, property and money. The standard inheritance tax is 40% however, it can be avoided by giving your inheritance to your children or partner (as this means no tax will be paid) 

Capital Gains Tax

Capital Gains Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) that’s increased in value. You get taxed on the gain and not the amount of money you have received.

Frequently Asked Questions