As a Director of a Limited Company, it’s essential to pay yourself a salary and dividends in the most tax-efficient way possible. In the UK, tax rates and allowances are subject to change each financial year, making it crucial to stay up to date with the latest...
When a business incurs expenses, it is either capital or revenue (trading) expenditure. Expenses which are classed as capital expenditure, normally have a lasting benefit for the business (at least longer than a year). Revenue expenses on the other hand, usually...
This is the question we are often asked by small business owners and if you have recently launched a new business, you might also wonder the same. So, let’s explore the ins and outs of this key area of tax legislation, including the essentials such as when you must...
Many employers provide their employees with company cars if their job requires frequent travel. However, the concept of company cars has become less attractive over recent years as a result of numerous tax changes. So how exactly do the tax rules work when it comes to...
In an attempt to stabilise financial markets which had been thrown into turmoil following the ‘mini-budget’ announcements in September, the (new) Chancellor, Jeremy Hunt made a statement to the House of Commons on Monday 17 October 2022. He announced what amounts to a...
OCT 2022 UPDATE: During the course of October, the Government announced a series of u-turns in relation the ‘mini-budget’. These u-turns included 45% additional income tax rate to remain indefinitely Corporation Tax increase (from 19% to 25%) to go ahead...
