Do you sometimes wonder why you’re working hard but with no or little profit at the end of the year? Could it be that you’re making the following classic profit mistakes in your business?
You are assigned a tax code by HMRC so the correct amount of tax can be deducted from your earnings by your employer. Tax codes are typically issued between January and March each year, but at other times as well if there’s a change in your circumstances.
The Intermediaries Legislation (IR35) has been a thorn in the side of limited companies who provide professional services since 2000. The financial consequences if your work is caught by this tax rule are significant. Here, we look at what IR35 is, and how to ensure that your company falls outside its scope.
Setting up a private limited company is perhaps simpler than you may think. You can incorporate yourself, or use a professional to do this for you. Here we look at what you need to form a company, and how the process works.
Corporation tax is charged on the profits of all UK-based companies, such as limited companies and foreign companies with offices or branches in Britain.
As anyone who has started their own business knows, it can be a costly exercise with a range of expenses to absorb before you’re officially up and running. The bills can quickly add up and typically, these have to be paid from your personal funds. The question is: can you claim any of these expenses back once your limited company has been fully incorporated?
A good accountant can not only save your company money, but will also provide reassurance that your financial affairs are being looked after, tax deadlines are being met, and potential problems are spotted in advance. So, if you’re starting up a new business, what should you look out for when choosing a limited company accountant? … Read more
There are many types of expenditure you will incur whilst running a limited company, however which expenses can you legitimately claim against your company’s tax bill?