Navigating the Tax Landscape: Tax Planning vs Tax Evasion

Navigating the Tax Landscape: Tax Planning vs Tax Evasion Octa Accountants 6 Min Read Oct 3, 2024 Tax Filing Although tax planning and tax evasion are on two opposite ends of the spectrum where tax obligations management is concerned, they serve the same purpose — to pay less tax. The main difference between the two […]

What are the Inheritance Tax Laws in the UK?

What are the Inheritance tax Laws in the UK? Octa Accountants 6 Min Read Jun 29, 2024 Inheritance Tax Inheritance Tax (IHT) is of essence to any form of wealth planning and management. Understanding how it works and different exemptions can aid in the process of making proper decisions and planning the minimization of taxes […]

How to set up a personal tax account in 2024?

How to set up a personal tax account in 2024? Octa Accountants 4 Min Read June 21, 2024 Self-Assessment Tax Registration of a personal tax account (PTA) requires formation of an individual’s personal tax account that helps in overseeing of taxation affairs in the United Kingdom of Great Britain and Northern Ireland. The Government has […]

UK Income Tax Filing: What You Need To Know

UK Income Tax Filing: What You Need To Know Octa Accountants 6 Min Read April 14, 2023 Self-Assessment Income tax filing process informs the government of your yearly earnings and tax responsibility during a tax year, figures out how much tax you pay on that income, and provides all the necessary documentation and records to […]

Who has to do a self assessment tax return?

Who has to do a self-assessment tax return in the UK? Octa Accountants 8 Min Read Jan 2, 2023 Self-Assessment This process calculates an owed or refundable tax amount from your declared earnings. You can find out if you need to pay or reclaim tax once you file your income. So who has to do […]