Author: thebosslch

What are ‘trivial benefits’ and how are they treated for tax purposes?

What exactly are trivial benefits and is there a limit to how much they can cost before being considered a taxable benefit? Guide for company directors.

How to choose a good name for your new limited company

Choosing a name for your limited company is a big deal – it is going to be the name that underpins everything you do in your business. It will carry your reputation and guarantee how memorable you are to future customers. However, there are rules you should be aware of when making your choice.

What is a limited liability partnership (LLP)?

A limited liability partnership (LLP) is a business model that shares some characteristics with both a limited company and a regular partnership while possessing unique features of its own.

What are the Articles and Memorandum of Association?

When registering a new limited company, you must provide (or adopt) Articles of Association, which act as the company’s ‘rule book’, and an initial list of subscribers via a Memorandum of Association.

Confirmation Statement – what is it, and how do I file one?

The UK tax authorities introduced new regulations on 30th June 2016 which introduced a new piece of paperwork for all businesses registered at Companies House to file. The new annual confirmation statement has replaced the annual return (Companies House form AR01) but does all the same things – just in a simpler way.

Setting up a limited company payroll – the basics

One of a director’s most important tasks is to set up your company’s payroll – to pay salaries, and account for income tax and NIC liabilities.

Shareholders’ agreements – how to minimise the chances of future disputes

If you’re starting up a business for the first time, you can choose which business structure most suits your needs. A limited company offers liability protection for its directors and is usually most tax efficient route to take. Here we look at the advantages (and disadvantages) offered by incorporating.

Corporation Tax – how to account for it as a limited company director

Corporation tax is charged on the profits of all UK-based companies, such as limited companies and foreign companies with offices or branches in th UK.

Certificate of incorporation: what it is, how to get one, and when you’ll need it

Learn what a certificate of incorporation is, what it contains, how to get a copy or certified copy from Companies House, and when you may need to show it.

Beat inflation with a savings account for your limited company

With ‘real’ inflation still well above 5%, many company directors are transferring funds into interest-bearing savings accounts.

Capital Allowances and your limited company

Capital allowances are a good way to reduce your company’s tax liability. We explore the AIA, WDA and other schemes, including Full Expensing.

Landline, mobile and smartphone expenses

If you use your phone for business, you may be able to offset the cost against your company’s tax bill. Guide to landline, mobile and smartphone expenses.