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Incorporating a limited company to operate your business may hold some significant financial advantages. Increase in tax savings and personal income are the main ones. Learn how to register a limited company and get information on how to operate it.
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From 6 April 2020, the benefit in kind rates for all-electric cars is reducing from 16% to 0%, which will result in significant tax and National Insurance contribution (NIC) savings. The BIK rate for an all-electric car is currently expected to then rise by 1% in 2021-22 and a further 1% in 2022-23. This rate should then be sustained through to the tax year ended 2024-25.
A good forecasting exercise isn’t merely about looking at the facts, it’s also a chance to ask ‘what if?’
Ultimately, this allows you to look at different scenarios and test the impact, enabling you to see more clearly how you would be affected by any changes in income or expenditure.
With Coronavirus causing so much uncertainty, now is a very good time to do a forecasting exercise.
Even during these troubled and uncertain Coronavirus times, starting a small business is an exciting step. It puts you firmly in control of your own destiny and earning power while also being a very tax-efficient […]
For most small business owners, the best take-home pay solution is a mixture of salary and dividend, whereby you take your tax-free personal allowance as salary and the rest of your income as a dividend. There are certain rules you have to abide by when calculating and taking dividends. Here we explain how dividends work.
The new tax year starts today and whilst we all have other matters on our mind, its worth noting the changes to the tax thresholds and new changes introduced, summarized below.
We have prepared a series of articles to explain what financial help is available to contractors and small businesses, extracting the information that’s most relevant to you. Here we look at the Coronavirus schemes designed to ease cashflow pressures.
As the end of the current financial tax year is fast approaching, it’s a good idea to think about whether you have fully maximised the amount you can withdraw from the company, tax-free and at the basic rate of dividend tax.
We have been providing expert accountancy services for more than 15 years and have helped thousands of small businesses to grow and thrive. Find out more about our services for start-ups, contractors and small businesses and get in touch today to experience Clever accounting for yourself.
Some of the many thousand's of freelancers and contractors that love using Clever Accounts
We provide a high-quality, specialist and personal service to UK contractors and freelancers. We combine clear, expert advice and great customer service, seamlessly with the simplicity, control and peace of mind delivered by bespoke online software. A complete, specialist accounting and tax solution, with simple, modern communication tools and an all-inclusive fixed fee.
Relax knowing everything is taken care of, you're fully informed and you can concentrate on bringing in business and delivering for your clients.
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