Does your limited company need Employers’ Liability Insurance?

EL cover policy company

If you run a business and employ staff, it’s important that you have the right type of insurance in place. Insuring your premises, goods, and vehicles against loss through theft or damage is essential but it’s just as important, and a legal requirement under the Employers’ Liability (Compulsory Insurance) Act 1969, to have employers’ liability insurance.

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How do I know if an accountant is qualified?

is my accountant qualified

Choosing an accountant to help you manage your business’ financial affairs is one of the most important decisions you’ll make.

The person you eventually go for will not only be privy to a large pool of information about your business’ performance and future viability, but he or she will also be the one you trust when it comes to arranging your tax affairs and submitting important documents to the government on time and with full accuracy.

That’s why it’s a good idea to always go for someone you trust and who is appropriately qualified for the job. In this article, we’ll take a look at some of the important qualifications you should look out for when choosing an accountant for your new limited company.

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Limited companies and the Flat Rate VAT scheme (FRS)

limited cost trader vat

The Flat Rate VAT scheme (FRS) is designed to make it easier for small businesses to fulfil their value-added tax (VAT) obligations.

However, the Flat Rate VAT scheme isn’t necessarily right for everyone: depending on the amount of costs you incur, the standard unsimplified VAT system may be a better option.

And with new changes coming into force in early 2017, the previous tax advantages of the FRS have been slashed for some – meaning it’s more likely you’ll need to look into making a change.

Read moreLimited companies and the Flat Rate VAT scheme (FRS)