It's great to see you here in the Community, @Isaac15. Thank you for bringing your questions to us. I'm happy to share insights and recommendations regarding the taxes you need to manage. I understand that navigating taxes for your limited company can be confusing, especially with all the requirements to consider. Don’t worry; we’ll clarify everything together.
If you're the owner of a limited company, you'll need to file for corporation tax. This tax is applied to the profits your company makes. On the other hand, if you're self-employed, things work a bit differently. In that case, you'll report your business profits through the annual self-assessment system, which helps ensure you pay the right amount of tax based on what you earn.
For further information, I recommend reviewing the following resource: Self Assessment for Income Tax checklist for QuickBooks Online. This article provides comprehensive guidance on the self-assessment process, ensuring you understand the necessary steps and requirements.
For professional tax advice, I recommend contacting your tax agency. They can give you the help and information you need for your specific situation.
In addition to this, you may find it beneficial to read this informative article: File your VAT return and record VAT payments in QuickBooks Online. This resource provides easy-to-follow instructions along with helpful tips for efficiently handling your VAT responsibilities. You'll learn how to use QuickBooks Online, follow the rules, and improve your financial management.
Please feel free to share any follow-up questions you have regarding your tax processing. I understand tax season can be a bit overwhelming, and I want to assure you that you can rely on our team here for answers. Whether you're seeking clarity on specific forms, deductions, or any other concerns.
