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Here are some of our most frequently asked questions.
| Q. |
What am I taxed on? |
| A. |
You will be taxed on the profits of the business, in addition to any other income received outside of the business. |
| Q. |
When will my tax be due? ( Sole Traders/Partnerships) |
| A. |
Your tax is due on January 31st each year and is in relation to profits made up to April 5th in the previous year |
| Q. |
And my Drawings? |
| A. |
You are not taxed on your Drawings ( taking drawings does not affect your tax liability) |
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