What is the dividend allowance?
In April 2016, as part of a fundamental overhaul in dividend taxation, a new ‘dividend allowance’ was created – a nil-rate tax band on the …
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How limited companies are taxed – including how to deal with Corporation Tax, VAT, National Insurance, PAYE (Income Tax) and running a payroll. Try our guide to limited company tax to get started.
How capital gains tax works
On the face of it, capital gains tax (CGT) is pretty easy to understand: it’s the tax you have to pay when you sell an …
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How do HMRC tax codes work?
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 …
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What is IR35, and will it affect my limited company?
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 …
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Entrepreneurs’ Relief – 10% tax on eligible business disposals
To encourage entrepreneurship in the UK, eligible individuals pay a lower 10% rate of Capital Gains Tax on the disposal of business assets, subject to …
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What is the Child Benefit High Income Charge?
Since January 2013, if you (or your partner) earns £50,000 or more, your family will no longer be eligible to receive the full state Child …
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What is the Marriage Allowance and how do you claim it?
Introduced in 2015, the Marriage Allowance enables an individual to transfer a portion of their personal allowance to their spouse or civil partner. If you …
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How are limited company dividends taxed?
Limited companies may decide to distribute their retained profits to shareholders. It is a popular method of drawing down funds by directors. Here, we look …
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What is VAT, and do I need to register my company?
Almost every consumer in Britain pays it, and it’s a staple talking point during the Chancellor’s annual budget. But what exactly is VAT and do …
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A brief guide to the Employment Allowance
Beneficial to entrepreneurs who employ others, the Employment Allowance could be worth up to £3,000 each year against your limited company’s Employers’ National Insurance bill.
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