Limited Company

Chart of Accounts

What is Chart of Accounts (COA)? A Basic Guide

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 …

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Limited Liability Partnership

What is a Limited Liability Partnership? A Basic Guide

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 …

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Buying a car through limited company

Things to Consider when Buying a Car Through Limited Company

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. …

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Limited Company Dividends

What are Limited Company Dividends and How are they Taxed?

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 …

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Micro-Entity Accounts

How to file Micro-Entity Accounts – A Small Guide!

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! …

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accountant's certificate of confirmation

Everything You Need To Know About Accountant’s Certificate of Confirmation

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 …

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What Is Insolvency

What is Insolvency – A Basic Guide for Beginners!

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 …

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How to File a Confirmation Statement

How to File a Confirmation Statement – A Basic Guide for Beginners

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 …

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shareholders and stakeholders

The Difference Between Shareholders and Stakeholders

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. …

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how to pay yourself from a limited company

How to Pay Yourself from a Limited Company?

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 …

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self-employed expenses

Tax Allowable Expenses – A Guide to Self-Employed Persons!

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 …

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Outsourced Accountant

What Can Outsourced Accountants Do for Your Limited Company

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, …

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memorandum of association

A Complete Guide to the Memorandum and Articles of Association

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 …

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Dissolved company

Can You Register A Company Name That Has Been Dissolved?

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. …

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Compulsory strike off

What is a Compulsory Strike Off and How Do I Stop It?

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 …

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Closing a limited company

Should I close my Limited Company or make it Dormant?

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 …

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sole trader or limited company

Sole Trader or limited company: Which is the Best?

“Should I go for Sole Trader or limited company?” You might be looking for the answer, right! No worries. Like you, many people ask this question before a company formation. Though your choice depends on many factors like income, taxes, market trends, customers, and management, etc. In this blog, we’ll discuss the definition and pros …

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Family investment company

Why You Must Choose Family Investment Company for Asset Transfer

If you’re into taking care of your assets in a good enough way, and passing it on to the next generation, here’s what you need to do: make sure you’re giving a thought to Family Investment Company (FIC). The best part about this is that you can prevent transferring your shares outside your family. The …

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Limited company accountant comparison

Here’s All you Need to Know About Setting Up a Limited Company

When you’re Setting Up a Limited Company, you’ll find yourself doing multiple roles. Whether it’s about investing in furniture, looking for the right staff to carry out necessary tasks or dealing with a legal framework. You need to make sure that everything is taken care of while you take the big leap and start generating …

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