If you own and operate a limited company, you must pay corporation tax. Because the rules can be complicated, understanding them is critical in order to avoid a penalty. You’ll learn everything you need to know about corporate tax rates and deadlines in our...
When operating as a sole trader or partnership, taking money from the firm for personal use is usually simple and straightforward, and there are usually no tax repercussions unless the owners’ drawings constitute a significant drain on the business’...
Even if you’re also the owner, you’re legally separate from your limited company as a director. Because you can’t just retain your gains like a lone trader, you’ll need to figure out the best approach to compensate yourself. This is usually...
If your company is organised as a limited liability company, paying yourself dividends in addition to a salary is usually the most tax-efficient way to take money out. We’ll discuss how often you can collect dividends and how the procedure works to help you...
When you’re a business owner, understanding taxes and claiming refunds and advantages can be difficult. That’s why having a professional accountant on your side can help you figure out what’s best for your business and how to get the most out of...
On 3 March 2021, the UK Government announced a temporary extension to the trade loss relief rules for companies and individuals alike. This gives rise to allowing a claim to offset trading losses for the year 2020-2021, as loss relief, against trade incomes of...
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