Yana Petruk

A collection of 25 posts

Blog Post Cover

Industry-specific Corporate Tax Incentives

Trading, banking or just innovative idea — all of this might be granted a corporate tax incentive in Singapore. Osome outlines what tax reliefs and reductions for business Singapore has to offer.

7 min read

Blog Post Cover

How Singapore Working Mothers Pay Less Tax Thanks to Child Relief

If you’re a working mother earning a taxable income in Singapore, it’s likely you qualify for Working Mother’s Child Relief (WMCR). Read on to find out a bit more about this personal tax relief programme and its benefits.

3 min read

Blog Post Cover

Withholding Tax in Singapore

Transferring money to a non-resident of Singapore will, in most cases, make you pay withholding tax on it. Osome covers who is seen as a non-resident, how to reduce the tax and what the due date is.

7 min read

Blog Post Cover

How Charity Can Help Your Tax Bill: Charitable Deductions in Singapore

In Singapore, the “giving is receiving” principle is brought to the level of national policy: one can make a donation to a charity and claim a tax deduction — for every dollar spent you’ll be deducted 2.5 dollars off your taxable income. How cool is that?

5 min read

Blog Post Cover

How Can a Foreigner Open a Business Bank Account in the UK?

Can a foreigner open a business bank account in the UK? Yes! Nothing stops UK banks from opening business accounts for non-residents. We look at your options if you don’t want to buy or rent property and compare the bank tariffs for you.

10 min read

Blog Post Cover

Form P50: Get Your Money Back Before the End of the Tax Year

If you overpay your taxes and you don’t get any taxable income for 4 weeks, you can contact HMRC and claim your refund straight away. That is what P50 is for. We look into the process and give tips on how to make things happen.

3 min read

Blog Post Cover

Singapore Corporate Income Tax: Rates, System, Reliefs

You make a profit — you pay a corporate income tax. We tell what the current tax rate is, how to reduce the sum you pay and do the counting.

6 min read

Blog Post Cover

What Is a Trade Mark in Singapore?

Having a nice design is not enough to make a company legally distinctive among competitors. Let’s clarify what a trade mark can be, when a company needs it, how to transform a trade mark into a valuable asset and how to use it.

6 min read

Blog Post Cover

What is Business Mileage and Who Can Claim It?

If your employees drive back and forth for business purposes, it’s a business-related expense. Thus, employees can claim petrol money back, and the firm can deduct these reimbursements from its taxable income. In the article below, we break down the latter — the so-called business mileage claim.

4 min read

Blog Post Cover

How to Verify a Company in Singapore

When you find a new partner or a new client, you may want to check the counterparty's reliability. Luckily, there’s a tool to verify companies that small and medium-sized businesses can use for free. Let’s take a closer look at it.

2 min read

Blog Post Cover

All Filing Requirements & Deadlines for a Small Business in the UK

As a limited company director, you have to keep 2 government agencies informed about your business: HMRC and Companies House. There are various forms and payments to take care of, and different filing timelines do not make it any easier. Let us glue all the pieces into a single picture, shall we?

5 min read

Blog Post Cover

XBRL and Tax Filing in Singapore: An Introduction

XBRL is a language used to standardise the way that companies in Singapore file their tax statements online. Take a read to get to know a bit more about XBRL tax filing requirements.

4 min read

Blog Post Cover

Selling Your Business? Entrepreneurs’ Relief Helps to Pay Less Tax

Entrepreneurs’ Relief (ER) allows you to pay less tax when you sell your company. ER is great for those unhappy with where their startup is going but unwilling to give up on their entrepreneurial career. ER can save some money and also bring enough funds to start a new business from scratch.

4 min read

Blog Post Cover

How to legitimately reduce your corporation tax

You can take advantage of the legitimate ways to reduce your corporation tax, such as claiming expenses, paying yourself a salary, and spending profits. We explain each step with examples and show how you could reduce the tax you owe more than by half.

5 min read

Blog Post Cover

DIN It: IRAS Document Identification Number Explained

A Document Identification Number (DIN) is what you come across when you file your income tax to IRAS. We cover what it is and how to get one.

3 min read

Blog Post Cover

IR8A: Income Info on Your Employees

In Singapore, employers gather information about their employees’ earnings and submit it to IRAS. That is what IR8A and some other forms are about. Let’s have a closer look

4 min read

Blog Post Cover

VAT returns and Making Tax Digital (MTD) in the UK

VAT returns in the UK have been moved online — from 2019, Making Tax Digital system is in force for it. We explain how to deal with it and what the deadlines are.

3 min read

Blog Post Cover

Singapore Personal Income Tax Rates YA 2019/2020 & How They Work

We break down Singapore income tax rates and how they apply to foreigners and locals. We will do some counting, so grab your calculators and let’s go!

3 min read

Blog Post Cover

Why Become a Singapore Citizen?

For those who have obtained a Permanent Resident (PR) status in Singapore, the next natural step would be to convert their PR into a Singaporean Citizenship (SC). A PR provides a person with clear advantages over a foreign citizen, but having citizenship takes these benefits a step further.

5 min read

Blog Post Cover

How to Get a Government Grant: Guide for Startups & SMEs

Planning to incorporate your business in Singapore? Already running a business? Grants can be of a great help. Learn what grants you can get, and how to improve your chances.

8 min read

Blog Post Cover

Angels and Ventures in Singapore: Who to Pitch Your Startup Right Now

If you’re an early-stage startup looking for venture capital, Singapore is the place to go. Here is a list of top venture capital firms and angel investors in Singapore to look for early-stage startup fundraising and memo on how to choose the right investors.

8 min read

Blog Post Cover

Taxes for UK Business Owners: 2019/20 Tax Rates, Thresholds & Allowances

Small business owners face double responsibility when paying taxes: they account both for themselves and for their companies. It is tiresome to keep up with the shifting tax rates, tax bands and allowances, so here is a guide for a private limited company owner to survive the 2019/2020 tax year.

7 min read

Blog Post Cover

What is a UK Company Registration Number?

CRN is an important and unique way to identify your company as a legal entity. Also known as a business registration number, UK company number or a registered company number, you’ll find that the most common abbreviation used is “CRN”.

3 min read

Blog Post Cover

P11D Form: All You Need to Know If You End up Googling It

The P11D form is a part of the UK payroll system that covers the benefits an employee gets. How and when to fill in the form, what the deadlines are and how to avoid any fines — Osome is here to guide you through all of it.

4 min read

Blog Post Cover

Tax & PAYE Reference Numbers: Don’t Let These Codes Confuse You

Your company has several numbers and codes that go on official documents. Different HMRC departments issue them to identify your company. Let’s figure out which one means what.

3 min read

Messenger
We’re using cookies! What does it mean?