Record keeping is vital for every incorporated business. If you do not keep the right records for the correct length of time, HMRC can fine your company £3,000 or disqualify its directors for up to 15 years. Even if these penalties only apply in extreme cases, they illustrate the importance of the task.
Regardless which sector or industry you work in, everybody has version of a ‘work wardrobe’, whether this is a version of their everyday look, a set of uniforms, personal protective equipment or a selection of suits or smart attire. If you are a limited company director, or sole trader, can you claim work clothes as an expense against your tax bill?
As a business owner, you are probably aware that you must automatically enrol any employees into a workplace pension scheme. Here we look at how the new pension rules work, and explain why many small companies are exempt.
Hiring your first employee can feel like a strange and daunting task for any small company owner, particularly as it means handing over a great deal of responsibility to another person.
Directors’ and officers’ insurance, also known as D&O insurance, is a type of business insurance that can often seem quite complex. How does it differ from other types of business insurance, what exactly does it cover, and is it really necessary?