What is Capital Gains Tax and when do I have to pay it?
When selling an asset, you might incur Capital Gains Tax. If the item’s value has increased, you may be taxed on the increase, not the full sales value.
What it means for businesses to be VAT registered
As a business, you have to be VAT registered in order to charge VAT on your products and services. An annual turnover of £85,000 means you must register.