A Personal Service Company (PSC) is a tax-efficient strategy for contractors, allowing them to save on income tax and enjoy other financial benefits by operating through a limited company. Key advantages include lower income tax rates, corporation tax savings, potential VAT savings, and the ability to claim business expenses. To set up a PSC, one must incorporate a limited company, register for taxes, open a business bank account, and establish an accounting system. While the tax savings can be significant, it's crucial to understand the responsibilities associated with running a limited company, such as ensuring tax compliance and maintaining accurate financial records.

End of year tax planning needs to get personal. Better still tax planning needs to be personal all the way through.

You don’t need all the income and you don’t need all the capital. Normally we find that clients want to enjoy the benefits of the capital and the benefits of the income, but money sitting in the bank is not always a source of that pleasure.

As the UK tax year draws to a close on April 5th, it is essential for taxpayers, including British expats living abroad, to take stock of their finances and ensure they are taking full advantage of tax allowances, exemptions, and reliefs. This article will provide practical UK tax planning tips for the end of the tax year, with a dedicated section for British expats.

Over the last three decades, the taxation landscape for UK expats living in Cyprus has witnessed significant changes, influenced by evolving bilateral relationships, changing economic conditions, and modifications to taxation policies. This article delves into the history of taxation for UK expats in Cyprus and discusses the key milestones that have impacted their financial lives over the years.

Two popular destinations for expats in Europe are Cyprus and Portugal, both of which offer attractive tax systems for foreign residents. In this article, we will compare the tax structures in these two countries to help expats determine which might be the better choice for their individual needs.