The self assessment is a system that requires individuals to report their own income and tax liability to HM Revenue and Customs (HMRC).

A sole trader is a self-employed person who runs their own business as an individual, rather than as a company.

If you are a company director or business owner in the United Kingdom, you are responsible for preparing and filing your company's accounts and paying corporation tax to HM Revenue and Customs (HMRC).

Most businesses that provide taxable goods or services in the UK must register for VAT if their taxable turnover (the value of their sales) exceeds a certain threshold. Currently, the threshold for registering for VAT is £85,000 per year.

Payroll services typically include the calculation of pay, the preparation of pay slips and other pay documents, and the processing of tax and other deductions.

Capital gains tax (CGT) is a tax in the United Kingdom that is applied to the profit or gain you make when you sell an asset that has increased in value. The asset could be something like a second home, a business asset, or shares in a company.