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Now that the current financial year is coming to an end, everybody would like to know where his/her tax burdens stand at. When we talk of tax liability, questions arise about tax evasions. It may very well be the case that you would end up evading tax and face consequences of evasion even if you have had no such intention to do so. You need to be aware of the tax duties as a citizen and need to know what are your tax liabilities.

The main costs associated with holding land are property taxes, liability insurance and, if you are holding a mortgage, principle and interest charges. 

A sole proprietorship is also known as the sole trader or simply proprietorship, a type of enterprise that is owned, managed and run by a single person and in which there is no legal distinction between the owner and the business entity. A proprietorship is very easy to form and it requires very minimal compliance during the company formation. So most of the entrepreneurs prefer to setup a sole proprietorship rather than other company like Limited Liability Partnership, Private Limited Company, One Person Company and Partnership. Advantages of Sole Proprietorship: 1. Easy To Start 2. Full Ownership and Control 3. Less Capital Involvement 4. Profits are not to be distributed 5. Ease of Formation 6. Complete control over all the aspects of business 7. Strong Interpersonal relationships with clients, customers and employees 8. Low Income Tax

The UK property market has traditionally been viewed as a valuable long term investment. For non-resident individuals, companies trust the UK property market has been considered a "tax haven". A non UK taxpayer can significantly reduce the liability to UK taxation by establishing a structure based on the following: A company is created in a country of low or zero taxation, which is used to purchase property in the UK.