5 Purchases you didn’t know were tax deductible
Keep reading to find out five business purchases you didn’t know were tax deductible. It is important that limited companies pay the right amount of tax each year to avoid fines and penalties from HMRC. Just like it is important not to underpay tax, it is also important that businesses do not pay tax on…
3 ways to reduce corporation tax
If you are a director or owner of a company operating in the UK, you are liable to pay corporation tax. Corporation tax must be paid based on the company’s profits and on any gains from selling assets such as land, property, or shares. You will not receive a bill for corporation tax and your…
How to sell a limited company
People decide to sell their limited company for a whole host of different reasons. However, the vast majority of business owners will choose to sell their limited company for the following reasons: Retirement Profit driven Simply not wanting to run the business anymore. You can either sell your shares to a third party buyer,…
What is a Companies House Confirmation statement?
The Companies House Confirmation statement is a document that all limited companies and LLPs must file at Companies House each year. This confirmation statement, which has an annual filing fee, is designed to give Companies House a yearly snapshot of the management and ownership of your business and it’s vital that this information is kept…
Everything you need to know about paying tax on dividends in 2022/23
Paying tax on dividends in 2022/23 | 4 minute read If you are both a director and a shareholder of a Limited company, one of the most tax-efficient way of earning an income is to pay yourself through a combination of salary and dividends. However, if you do not understand dividend payments or how much…
What are statutory accounts?
When you’re running a business, there are a number of tax returns, accounts, and other financial obligations you should be aware of. All private limited companies operating within the UK must complete statutory accounts, accurately and on time. Statutory accounts are also known as annual accountants. They are a set of in-depth financial reports that…
A guide to 2020/21 dividend rates in the UK
All limited companies operating throughout the UK, regardless of their size, should be aware of the 2020/21 dividend rates in the UK. This is because, there are a whole host of dividend tax rates that affect how much money you can take from your company in the form of dividends. If you’re struggling to get…
How much dividend can I take?
Taking dividends is one of the most tax efficient ways to take money from a limited company. But what exactly are dividends and how much can you take? What are dividends? Dividends are the payments made to company shareholders from the business’ profits. So, if the business has made a profit, these earnings can be…
Buying a property through a Limited Company
Whether you’re a contractor, business owner or independent professional operating via a Limited Company, you might have already thought about buying a property through your business. This way of tapping into the property market is not uncommon, however, there are lots advantages and disadvantages of purchasing a property in this way that is certainly worthwhile…
Adding a director to a limited company
Adding a director to a limited company When you set up a limited company, you will be required to have at least one director, as well as at least one shareholder. However, once the company has been set up, you might find that you want to expand your team of directors, or replace one of…
How much is it to set up a limited company?
How much is it to set up a limited company? A record number of businesses have been set up during Covid-19, with more people than ever before make their dream of launching a business and doing what they love a reality. According to analysis conducted by the Centre for Entrepreneurs, 500,000 companies were launched in…
How to start a limited company
If you’re about to begin a new business venture, setting up a limited company is one of the most tax-efficient and smartest ways to run your company. A limited company is a business structure that has been incorporated at Companies House as a legal ‘person’. But what does this mean? This basically means that…