Limited Company Help

Are you thinking of setting up a limited company, or are you a seasoned business owner?

Run by an experienced team, our site contains concise guides to everything from company formation to dealing with tax and taking on your first employees. We’ve been operating business advice sites for nearly 20 years.

Try our Company Formation and Tax Guides to get started! You can follow us on Twitter.

company hardware software expenses
Expenses

Tax treatment of company hardware and software expenses

Computer hardware and software are two essential expenses for any modern business and costs can run into the thousands, but what can you legitimately claim for on your annual tax return? This type of business expense can often be a tricky area for contractors and freelancers, especially if you are installing new software or using

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what does limited liability mean
Limited Company Guides

What does limited liability mean?

In the UK, there are four main types of limited liability companies: Private limited companies limited by shares, private limited companies limited by guarantee, private unlimited companies, and public limited companies. Sole trader and general partnerships aren’t companies as such as neither is a legal entity. Another business structure is a limited liability partnership, which

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cgt capital gains
Tax & Accounting

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.

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Companies Act 2006
Limited Company Guides

What is the Companies Act 2006?

The Companies Act 2006 is a complex piece of legislation that took eight years of lengthy consultation before agreement could be reached on the final provisions. The new Act, which became law in October 2009 and contains more than 1,300 sections, replaces the 1985 Act. It aims to modernise company law, simplify legislation, enhance the

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medical expenses limited company
Expenses

The tax treatment of medical and health expenses

As a limited company owner, there are a number of expenses you can legitimately claim back from the business without being hit for tax. Many of these are easy to identify but one grey area is medical and health-related expenses, as some of these are considered as a benefit in kind (BIK) and deemed taxable.

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limited company shares
Limited Company Guides

What is share capital, and what types of share can be issued?

In order to get a business off the ground, it’s vital to have some cash to get the enterprise going and give it some momentum. That’s where shareholders come in: by paying cash up front in return for a portion of ownership, they hope for a future higher value of the shares they now own.

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limited company broadband phone expenses
Expenses

How are broadband and phone expenses treated?

They are two of the most common business-related costs, but how are broadband and phone expenses treated by HMRC, and how can you make sure they remain tax-deductible as a legitimate business cost and not be added to your personal tax bill at the end of the financial year?

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ltd company advantages
Limited Company Guides

What advantages does a limited company offer?

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.

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shareholder agreement company
Limited Company Guides

What is a shareholders’ agreement?

A shareholders’ agreement is a private document which outlines how a limited company is to be run. It is designed to protect all parties, particularly minority shareholders, and to restrain the power of the directors.

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accurate records company
Tax & Accounting

Limited company accounts – keeping accurate records

Record keeping is vital for every incorporated business. If you do not keep the right records for the correct length of time, HMRC can fine your company £3,000 or disqualify its directors for up to 15 years. Even if these penalties only apply in extreme cases, they illustrate the importance of the task.

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company expenses clothing
Expenses

Can you claim the cost of work clothes on expenses?

Regardless which sector or industry you work in, everybody has version of a ‘work wardrobe’, whether this is a version of their everyday look, a set of uniforms, personal protective equipment or a selection of suits or smart attire. If you are a limited company director, or sole trader, can you claim work clothes as

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Child Benefit Tax
Tax & Accounting

What is the Child Benefit High Income Charge?

Since January 2013, if you (or your partner) earns £50,000 or more, your family is not eligible to receive the full state Child Benefit entitlement. Here we look at how this charge works, and why it creates a controversial anomaly in the tax system.

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IR35 tax insurance
Insurance

Do limited company owners need tax investigation insurance?

By taking out tax investigation insurance, you can help to mitigate the potential cost of being investigated by HMRC which can be both time-consuming and expensive. This type of insurance policy also gives you the peace of mind that you will be covered should you be selected for tax investigation.

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limited liability partnership
Limited Company Guides

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. In terms of company structures, LLPs are relatively new in the UK and were first introduced in 2000 by the Partnership Act. So, what type of

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