Taxation

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. …

Things to Consider when Buying a Car Through Limited Company Read More »

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 …

What are Limited Company Dividends and How are they Taxed? Read More »

staff entertaining allowance

Beginner’s Guide on Staff and Client Entertainment Expenses

Entertaining clients or staff has been proved to bring a number of advantages. For example, giving rewards to employees for their hard work increases their morale and builds loyalty. On the other hand, spending time with clients helps to make better relationships with clients. Therefore, it is essential to know what expenses qualify as entertainment …

Beginner’s Guide on Staff and Client Entertainment Expenses Read More »

Contracting Umbrella Company

Contracting Umbrella Company – A Guide For Beginners!

If you are a self-employed contractor, you can operate through a contracting umbrella company instead of burdening yourself in establishing your new private company. The benefits of operating via an umbrella company are based on your IR35 status and contracting period with the company. This blog will let you know about the importance of working …

Contracting Umbrella Company – A Guide For Beginners! Read More »

tax implications of taking money from a limited company

Tax Implications of Taking Money from a Limited Company for Home Office

Due to COVID-19, numerous people are shifting towards WFH (work from home). Operating from home is benefiting people in reducing the overall expenses. This encourages people to start their businesses. When working from home as a limited company, there are many tax reliefs provided by the HMRC. This blog will let you know about the …

Tax Implications of Taking Money from a Limited Company for Home Office Read More »

How Do I Register as a Sole Trader

How Do I Register as a Sole Trader? – Basic Guide

It is a fact that there are many benefits of establishing your own business. That’s where the sole proprietorship, the most basic business structure, comes in. Being your own boss allows you to work from home, make your own decisions, keep all profits, and apply business growth methods. So, if you wish to work as …

How Do I Register as a Sole Trader? – Basic Guide Read More »

Pay Tax on Freelance Work UK

Tax Information For Freelancers: How to Pay Tax on Freelance Work UK?

A government study found that a wide range of individuals works for themselves within the UK. If you’re one of them, you’ll be obligated to pay tax on freelance work UK and need to register yourself for Self Assessment. After registering, you are required to pay several types of taxes such as income tax, NICs and …

Tax Information For Freelancers: How to Pay Tax on Freelance Work UK? Read More »

What is Net Pay? Net Pay Vs Gross Pay

What is Net Pay? Net Pay Vs Gross Pay – Definitions & Formulas

Do you know what’s being deducted from your annual salary and what is progressing to be your take-home pay? So, it is essential to understand what is net pay and how it differs from gross pay to help you oversee your funds and make several goals for increasing profits and developing a career. This article …

What is Net Pay? Net Pay Vs Gross Pay – Definitions & Formulas Read More »

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 …

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

what are dividends

What are Dividends and How Often you Pay Limited Company Dividends?

If you are a business owner operating on the structure of being a limited company, tax efficiency is one of the biggest priorities you have, as well as a significant challenge you face. Staying on top of government dues and fees is incredibly important, and it’s a crucial aspect of your business’s financial health. As …

What are Dividends and How Often you Pay Limited Company Dividends? Read More »

HMRC tax investigation.

What Causes HMRC Tax Investigations Against Self Employed?

Taxes are a bane of many taxpayers’ existence, but filing the right documents is never as straightforward as it seems. When errors are found in your records, they can catch the HMRC’s attention and result in an unwelcome HMRC tax investigation. This often results in a myriad of costly consequences for businesses, so you can …

What Causes HMRC Tax Investigations Against Self Employed? Read More »

Depreciation Rates on Fixed assets

How to Determine the Depreciation Rates on Fixed Assets

Calculating the depreciation of fixed assets has paramount importance to business owners. You can calculate the depreciation of assets in different ways and it varies depending upon your calculation method. This short blog will help you to determine how to calculate the UK depreciation rates on fixed assets of the businesses. Let’s kick off with …

How to Determine the Depreciation Rates on Fixed Assets Read More »