Limited Company Tax
How limited companies are taxed – including how to deal with Corporation Tax, VAT, Class 1 National Insurance, CGT, PAYE (Income Tax) and how to run your payroll.
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Self-assessment, payments on account (POA), and paying your tax bill during a pandemic
How payments on account work, and what if you’re unable to pay your self-assessment bill in full due to COVID-19?
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What does Self Assessment involve, and who pays it?
Who has to complete a self-asssessment return, how payments work, plus how you can pay your 2019/20 bill via instalments due to the COVID-19 outbreak.
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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. Here, we look at what IR35 is, and how to ensure that your company falls outside its scope.
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A guide to the Employment Allowance for company owners
The Employment Allowance could be worth up to £5,000 each year (after April 2022) against your limited company’s Employers’ National Insurance bill.
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How to find the best limited company accountant
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.
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What is the dividend allowance?
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.
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What do limited company accounts consist of?
Every year in the UK, all registered companies must prepare annual accounts and file them with Companies House and HMRC. Businesses must accurately report on their financial activity during the tax year just gone. The preparation of these accounts will establish how much profit has been made during the financial year, and therefore the amount […]
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What is Inheritance Tax, and how is it applied?
As the well-known saying puts it, the only two certainties in life are death and taxes, which is definitely where inheritance tax (IHT) comes in. But what exactly is IHT, and is there anything you can do to mitigate the effects of this on an estate?
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Details you must include on limited company invoices
Sending out invoices for the goods or services you provide is a key task for limited company owners. If your invoices lack certain details, this could cause a delay in receiving payment, possibly resulting in cash-flow problems.
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How to survive an HMRC tax investigation
There are few things business owners dread more than being on the receiving end of an HMRC tax investigation. But the situation may not be quite as stressful as you might think.
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What is the Bribery Act, and how are small businesses affected?
Businesses of all shapes and sizes in the UK are affected by the Bribery Act and company directors need to be aware of what they should do to ensure their full compliance with the rules.
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How Capital Gains Tax works
Capital Gains Tax (CGT) is pretty easy to understand: it’s the tax you have to pay when you sell an asset that has grown in value. You will only pay CGT on any profit you made from the sale and not on the overall sum you received.
