Guides

Enlightening guidance, clear and in depth

From time to time an issue arises that is too big for a blog post – the Chancellor’s autumn budget, for example, or the emergence of an important new policy, such as Making Tax Digital. This is where you’ll find Alchemy’s latest publications on the most important topics.

Guide to Corporation Tax

What is Corporation Tax? Corporation Tax is the tax charged on the profits made by a corporate entity (a limited company). How is Corporation Tax calculated? Accounting profit is calculated by deducting expenses from income. Taxable income is then calculated by...

Guide to IR35

What is IR35? IR35 is the most important, and controversial, piece of legislation to affect limited company contractors. It was first introduced in 2000 as a means of preventing what is known as false self-employment. This is where a person that would otherwise be...

Guide to Expenses

Claiming Expenses Generally, there are two tax considerations when making a claim for expenses: Whether they can be deducted from trading income to computing profits chargeable to Income Tax or Corporation Tax (depending on whether incorporated), as discussed in...

Guide to VAT

Contents What is VAT VAT Rates Who must be VAT registered Deregistration Defaults and Surcharges Cash Accounting Scheme Flat Rate Scheme What is VAT? Value Added Tax (VAT) is a tax which is levied on the sale of good and services by VAT registered businesses in the...

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