Parker Business Development
And Accountancy

 

Income Tax

Every person or company has to deal with income tax and also how it can affect themselves or the company as a whole. self-employed people have personal allowances deducted from income before calculating income taxes at rates determined by the amount of there own income. Directors and managing directors are taxed on all their remuneration and benefits from their directorship, there income tax is done in the tax year. Employees are also taxed through the tax year but get there tax taken out of there wage (PAYE) at the end of every month. (if they have pensions they are also taxed this way.)

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