What are statutory accounts?
What are statutory accounts? | 2-minute read 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 guide to 2024/25 dividend rates in the UK
All limited companies operating throughout the UK, regardless of their size, should be aware of the 2024/25 dividend rates. 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. Understanding dividend rates is crucial for ensuring you comply…
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
Selling a limited company can be a complex process, and of course, it’s a significant decision, with both financial and emotional implications that should be considered. 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…
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…
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 were established during the Covid-19 pandemic, as many people turned their dreams of launching a business into a reality. With more time on their hands due to furloughs and lockdowns, individuals across the UK seized the opportunity to pursue their…
How to start a limited company
How to Set Up a Limited Company: A Step-by-Step Guide If you’re embarking on a new business venture, setting up a limited company is one of the smartest and most tax-efficient ways to structure your business. A limited company offers various advantages, including personal liability protection and enhanced credibility. But what is a limited company?…
