VAT or Value Added Tax is a tax that’s applied to most goods or services. It’s paid by businesses and individuals, but not every business needs to charge VAT. VAT is collected on sales invoices and paid on purchase invoices with the net amount collected being paid...
Now more than ever, future planning is a vital part of a successful business. Knowing where you want to be in the future will help with decisions today and give you motivation on the hard days. You wouldn’t start a journey without knowing which direction to follow;...
What is a Self-Assessment tax return? If you’re a Director and Shareholder of a limited company or operating as a sole trader, you must submit a Self-Assessment tax return to HMRC every tax year. The tax year runs from 6th April – 5th April and your...
Everything you need to know about hiring staff. As a Director of your company, employing staff may be a necessity, but can often seem to be a minefield with so much to consider. This factsheet is intended to be a handy guide for new employers, with some basic...
Many Directors use a combination of salary and dividends to pay themselves throughout the tax year to utilise the tax allowances and thresholds in the most efficient way. Personal Income tax As Director of a limited company, you must submit an annual self-assessment...
