Every limited company director has experienced the moment of uncertainty regarding whether they can claim for something they intend to buy or not. Its important to know what you can claim to avoid paying more tax than you need to, and to make sure you don’t buy things through the company that aren’t allowable business […]
Key Limited Company Expenses Read More »
As a Sole Traders it is important to know what you can claim to avoid paying more tax than you need to, and to make sure you don’t buy things that aren’t allowable business expenses. The tricky thing for the self employed is knowing what you can and can’t claim! As with all expenses the
Sole Trader Expenses Read More »
Despite what some people may believe there is a wide range of reasons other than being self employed that may cause HMRC to ask you to complete a self assessment tax return. The most common are self employment, owning a rental property or being a director of a limited company. Below are some of the
Do I need to do a tax return? Read More »
When it comes to claiming the expense of workwear and corporate gifts it is all about using your logo! You can buy workwear with your logo on it and it will be a taxable expense. Most other clothing is not going to be allowed unless its very clearly specifically for business. Maybe you need some
Workwear and corporate gifts Read More »
Despite government pressure for everyone to return to the office now, there is resistance to this. Employees are enjoying the option to work from home particularly saving time and money on the commute, and employers are seeing the cost saving potential of shutting offices down or reducing the number of people in the office at
Working from home allowance and ways to treat your employees Read More »
When starting your own business you have to make a choice about how you would like your business set up. The main choice is between a sole trader or setting up a limited company. There are advantages and disadvantages of both and what is right for one person may not be right for you. What
Should I be a Limited Company or a Sole Trader? Read More »
One of the first hurdles to cross when starting your own business is getting everything set up and ready to go. You’ve finally settled on a limited company over being a sole trader and want to get started, but aren’t sure of what you need to do or if you’ve covered everything. Here is our handy checklist to
Limited company set up checklist Read More »
Once the accounts and tax return have been filed the next step is to pay HMRC. We often get asked how to do this! You can pay the corporation tax bill online here.To do this you will need the company’s payment reference number. This will be on the payment notice sent from HMRC. Corporation Tax –
How to pay your Corporation Tax Read More »
R&D is a tax relief you can claim from HMRC for technical development and research projects and it well worth looking into if you think you could be eligible. We hooked up with Simon Bulteel from Cooden Tax Consulting to get his top tips for R&D as its an area that is definitely worth exploring,
We’ve had the big budget announcement I was waiting for, and sadly it’s pretty pants news for small limited companies! If you’re a sole trader or landlord, good news for you is that not an awful lot is changing. Rates are staying the same apart from your Capital Gains allowance dropping from £12,300 to £6,000.
Spring 2023 budget update for small businesses Read More »