Value Added Tax, an indirect tax on goods and services at every level of their path, has to be computed by the provider of a service. Limited companies paying VAT can get it back from HMRC on business purchases. VAT-registered companies evaluate the difference between VAT paid and charged and either pay HMRC the excess […]
How to Register for VAT as a Limited Company in the UK? Read More »
Are you looking for a complete list of allowable limited company expenses in the UK? Then, here is a blog that you must read. It is important for a business to know what allowable limited expenses are to calculate their taxes. If you have registered as a limited company recently, you will have a hard
What are the Allowable Limited Company Expenses in the UK? Read More »
If you are focused on finding facts about the process to register as an overseas entity in the UK, which involves various verification checks to ensure compliance with regulations, this guide is for you. After registration, the entity becomes a legal entity and gains the ability to conduct business activities in the country. It will receive
How to Register as an Overseas Entity with Company House? Read More »
A company is a legal entity that is formed by a group of individuals to carry out their business operations. It acts as an artificial person. You can set up a company in various ways according to the company’s jurisdiction. There are different types of limited companies. One of the most popular types of companies
What is a Private Limited Company? A Basic Guide Read More »
Millions of employees are now automatically enrolled in a workplace pension scheme through a government initiative known as automatic enrolment for employees. This initiative was introduced by the government to help people to save for their retirement. Here, your employer also contributes to it. In this blog, you’ll learn what is automatic enrolment for employees,
What is Automatic Enrolment for Employees? Read More »
Many people, including self-employed persons and employers, might not be aware of the troublesome rules of benefits of kind. Sometimes it may be tricky to understand them as few of them are taxable and few aren’t. Due to the complex rules, it may be difficult to know which rules apply as per your situation. But
Benefits in Kind: An Overview Read More »
Tracking the incomings and outgoings of a business can be trouble, but it is crucial to get a deep insight into a business cash flow and to ascertain the financial stability of a business. Chart of Accounts (COA) is the index of all financial accounts to help you perform these tasks effectively. Let’s see: what
What is Chart of Accounts (COA)? A Basic Guide Read More »
If you want to establish a company, you need to decide what type of company you need to register as per your business needs. Whether you should start a limited company or a limited liability partnership? Or perhaps you want to incorporate another type of company? Let’s see how a limited liability partnership can be
What is a Limited Liability Partnership? A Basic Guide Read More »
If you are a registered company owner or a director in the UK, you are obliged to submit an Annual Return (Confirmation Statement) to the Companies House each year after 12 months of the company’s incorporation. Bear in mind that currently annual return (After 30th June 2016) is called the “Confirmation Statement”. Read on the
What is an Annual Return? How to File it? Read More »
Considering buying a car through a limited company? At first, it may seem an appealing idea for saving a great amount of tax, however, there are many complications and business tax implications that you need to be aware of. Buying a car through a business would only be beneficial to you as per your circumstance.
Things to Consider when Buying a Car Through Limited Company Read More »
Limited company dividends are the amount of money/profit that a limited company pays to its shareholders. The amount of money earned by a limited company is distributed in the form of dividends after paying all the liabilities and expenses, along with the outstanding taxes (like VAT and Corporation Tax). Your company is not liable to
What are Limited Company Dividends and How are they Taxed? Read More »
If you are a small business, you can file micro-entity accounts to save your money and time. However, if you are looking for a significant source to know what is micro-entity accounts, your business qualifies as a micro-entity or not, and where to submit your prepared accounts, then you have just found the right source!
How to file Micro-Entity Accounts – A Small Guide! Read More »
If you aim to apply for a five-year route settlement in the UK, then this is the guide that you are looking for. But, first, it’s essential to understand the importance of an accountant’s certificate of confirmation for this. As in case you fail to submit it when required, your application will be rejected. This blog will let
Everything You Need To Know About Accountant’s Certificate of Confirmation Read More »
Businesses face numerous financial challenges in today’s rapidly changing global economy, where nothing is predictable. The Covid-19 pandemic has caused the downfall of the world’s major economies. Due to which several companies have faced insolvency, and some are still fighting to prevent it. So, in this blog, we will see what is insolvency, how to
What is Insolvency – A Basic Guide for Beginners! Read More »
Companies House required every limited company to send a confirmation statement (CS) once a year. It is necessary to verify that they contain updated information about your company. It is essential to understand what you are required to do and when because if you fail to send Companies House the confirmation statement, you could be
How to File a Confirmation Statement – A Basic Guide for Beginners Read More »
Both shareholders and stakeholders are closely interrelated in the business world and are considered alternatives. However, closer insights show that they are not the same. In this blog, you will come to know about the difference between shareholders and stakeholders. Shareholders own shares (equity stocks) in a company and have a personal interest in it.
The Difference Between Shareholders and Stakeholders Read More »
If you own a business property, capital allowances are a great source of tax relief. You can claim it regardless of how long you’ve possessed the property. It applies to all commercial properties, and the tax relief generally comes in the form of a significant rebate and a long-term reduction in your tax rate. In
What Capital Allowance Can I Claim? Read More »
When employers provide employee benefits to their workers, they need to file a P11D form to inform HMRC about their value. This form provides details of the benefits and expenses employers provide to their directors and employees in a tax year. Read on to find out What is a P11D form? Who gets this form?
What is a P11D? Everything You Need to Know! Read More »
Establishing a limited company is one of the popular ways to set up a business in the UK. According to an estimate, there are over 2 million limited companies in the UK. It makes 34% of the UK’s private sector business population. This is because of the huge financial and professional benefits a limited company
Limited Company: Advantages and Disadvantages Read More »
There are a lot of benefits for operating a limited company. From limited liability to various tax benefits attract many people towards a limited company rather than a sole proprietorship. Being a separate entity, the finances of the limited companies belong to the business, not individuals. It means that a person cannot withdraw money from
How to Pay Yourself from a Limited Company? Read More »
If you’re thinking to set up your enterprise as a limited company (or you have already set up), you must know what share capital is and how it works. Shareholders within the company are only responsible for what they put into the business as limited companies are ordinarily “limited by shares.” You would often encounter
What is Share Capital and How it Works? Read More »
If you’re a business owner or an investor in the UK, you should understand how to read a balance sheet of a UK company. Wondering why do you need to read it. If you are unable to read a balance sheet, you can’t know the financial strength of your business. And you can’t make the
How to Read a Balance Sheet of a UK Company? Read More »
Self-employed expenses can be deducted from the business turnover to calculate the overall tax required to pay every year. However, all the business expenses are not allowable. Therefore, as a self-employed person, you must know the cost that can be reclaimed on your tax returns. In this blog, you will come to know about What
Tax Allowable Expenses – A Guide to Self-Employed Persons! Read More »
For any kind of decision-maker, business owner, or company director, it’s common knowledge that overseeing accounts and taxes is an unenjoyable and challenging experience. It’s one of the most complicated business processes you will ever face. Managing your business’s numbers and adhering to set standards set by the HMRC is frustrating, prone to errors,
What Can Outsourced Accountants Do for Your Limited Company Read More »
If you’re in the process of setting up a limited company, you’d get a plethora of paperwork. Along with other papers, the documents necessary to set up a limited company in the UK under the Companies Act 2006 are a memorandum of association and articles of association. In the first place, knowing and preparing these
A Complete Guide to the Memorandum and Articles of Association Read More »
Raising capital for your business is a crucial step for the growth of your business. As, you have invested your expertise, savings, and time to establish your business. Now, it’s time to raise some capital for its expansion. To do it, you don’t need to ask any bank rather there are a lot of crowdfunding
Top Crowdfunding Platforms for Businesses Read More »
Dissolved companies are removed from the register of companies house which means they don’t contain any legal existence. Hence, the names of these companies can be used again while registering a new or existing company in the UK. But you should note that the re-used name should follow the rules of the Companies Act 2006.
Can You Register A Company Name That Has Been Dissolved? Read More »
If you’re a limited company, you need to pay corporation tax every year. In this short blog, we will discuss how to pay corporation tax and what is the best way to pay it. As a registered limited company, you’re legally bound to pay corporation tax on the profit you make. First, you need
How to Pay Corporation Tax? Read More »
Compulsory strike off is the process of dissolving a company from the Companies House Register. The Companies House has the authority to forcibly strike off a company from its record owing to its non-compliance. There are two ways to strike off a company: voluntarily and compulsory. In this blog, we’re going to discuss what is
What is a Compulsory Strike Off and How Do I Stop It? Read More »
Closing a limited company is one of the most crucial decisions that need careful consideration. No matter whatever the reason for your company closure is, you should consider all other factors and options before taking this decision. If you’re doubtful whether closing your company is the right step to take or not, then you must
Should I close my Limited Company or make it Dormant? Read More »
