Business guides and resources
Expert guides and advice to help you run your business
If you like to challenge yourself with New Year’s resolutions, maybe now is the right time to set some fresh goals for your small business.
When passion and business grow together Turning your hobby into your livelihood is a dream for so many people, but Samantha Bernice has actually made it happen. Samantha’s business grew from her passion for yoga and...
Your first year as the owner of a limited company can seem like a whirlwind of accountancy-related deadlines. There are dates to remember for filing your year-end accounts, your self-assessment tax return, your VAT returns…and a host of different dates for making payment of your various taxes. Here is how you stay on top of everything.
With the deadline for submitting your Self-Assessment Tax Return just around the corner, it’s a good idea to start getting your finances in order so that you don’t have a last-minute panic.
When you set up and run a limited company using our online bookkeeping service, it’s important to understand how Corporation Tax works. Corporation Tax is based on the profits your company makes; so you must ensure you set aside enough of your company’s income to pay the tax by or before the deadline. Late or inaccurate payment could mean you face fines and penalties from HMRC.
Christmas is fast approaching and in the season of goodwill you may be thinking of hosting a gathering or buying a few gifts for colleagues or customers. Here’s a quick reminder of the relevant tax relief rules, so you can be generous without running into trouble with HMRC.
How and when do you need to pay Corporation Tax?
What would be the most tax-efficient VAT path for your company?
Here’s our new guide for business taxes in 2019/20.
If your personal tax bill for the year ended 5th April 2019 exceeded £1,000, you will likely be required to make a payment on account of the year ended 5th April 2020. This would have been made up of half your tax bill upfront in January 2020, and another half in July 2020. This means that by the 31st July 2020, you should be paid HMRC the equivalent tax for the year ended 5th April 2020, as you did for the year ended 5th April 2019.
Dividends are usually a great, tax-efficient way of withdrawing money from a company by the owners. A company can declare a dividend if it has sufficient profits available within the business. However, there are...
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