If you provide entertainment benefits to staff, your company may need to pay Class 1A National Insurance of the value of such perks. You will also need to report the value of such benefits on each employee’s annual P11D form. However, there is one exception that you may not know about.
The Data Protection Act 1998 was written by the government to ensure high standards are promoted in the way personal information is handled, and to ensure that an individual whose data is held by a company is given their right to privacy.
When you’re first starting out in business, finding new sources of income is often difficult – but seeking the backing of a business angel may offer good solution.
Business operators regularly rely on business loans in order to start or expand an enterprise. Whilst many also rely on alternative investment options, business loans are a common way to access funding.
Unlike active companies, dormant limited companies do not trade at all. Although most enterprises registered with Companies House are processing income and expenditure, dormant companies are just standard limited companies which are inactive.
Companies House is the government body responsible for administrating company information in the UK. As a company owner, you will interact with the agency when you first form a company, submit accounts or your Confirmation Statement, or make changes to the data stored about your business.
When you first register a new limited company, you need to provide (or adopt) Articles of Association, which act as the company’s ‘rule book’, together with an initial list of subscriber via a Memorandum of Association.