Beneficial to entrepreneurs who employ others, the Employment Allowance could be worth up to £4,000 each year (£3,000 pre-April 2020) against your limited company’s Employers’ National Insurance bill.

Whether you have recently set up a limited company or you have been managing your finances independently until now, hiring an accountant may be the best thing you do during the early days of running your business.

In April 2016, a new ‘dividend allowance’ was created – a nil-rate tax band on the first £5,000 of dividend income. This allowance threshold was short-lived, however, and was cut to £2,000 from April 2018.

One of the most frequently asked questions by new business owners is – how are limited companies taxed?

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 are eligible, you can claim £238 during the 2018/19 tax year.

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. Here, we look at what IR35 is, and how to ensure that your company falls outside its scope.

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.

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?

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 at how dividends are taxed, and how to ensure that you declare dividends correctly.