The Effect of Associated Companies on Corporation Tax Rates
You won't believe how associated companies can drastically change your corporation tax rates—discover the key factors that could impact your business.
The benefits of setting up a limited company for your small business
As a small business owner, you have a lot of important decisions to make. One of the biggest decisions you’ll face is how to structure your business. There are several options to choose from, but one that you should definitely consider is setting up a limited company. Now, before we dive into the benefits of […]
A small business owners guide to dividends
What is a dividend? A dividend is a way of the company paying out its profits to its shareholders. They are paid out of “distributable profits” of the business, which broadly means the accumulated profits of the company that have not yet already been paid out to shareholders. This means that when you pay a […]
Common Errors that can lead to benefit in kind tax bills
Common Errors that can lead to benefit in kind tax bills I decided to write this article as I would find the same myths and misconceptions arising time and again with clients from all walks of life. Often is was due to bad or no advice have been received in the past, before they joined […]
Overdrawn Director’s Loan account
Overdrawn Director’s Loan account What is a director’s loan account? When businesses are owned and run by the same person (the director is a shareholder) there are very often transactions between the company and the director. This could be the director initially putting money into the business to start it up, or injecting some cash […]
How to change your registered address when you’re locked out
How to change your registered address when you’ve lost your Authentication Code Your registered address for your company is your “official” address. It is where HMRC and Companies house will normally send their correspondence to. But what if you no longer have access to that address. It is quite common for people to register their […]
Being a company director – what do you need to know?
When you become a company director you take on certain legal responsibilities. Companies House have produced this really useful video about what you need to know about becoming a company director.
Directors loan accounts. Use it, but don’t abuse it!
Directors loan accounts. Use it, but don’t abuse it! I was recently asked by a client whether he could take out a directors loan from his company, instead of drawing a salary or paying dividends. Its not an uncommon question and in fairness it’s something that did used to work. Sort of… For those of […]
How to file your confirmation statement
How to file your confirmation statement The confirmation statement is the replacement for what was the Annual Return. This needs to be completed at least once per year, even if your company is dormant. If you don’t do this then Companies House can (and actually frequently do!) have your company struck off and effectively cease […]