Business Asset Disposal Relief (BADR) is a valuable tool that helps business owners reduce the amount of Capital Gains Tax (CGT) they need to pay when they dispose of an asset, such as selling part or all of their business. Formerly known as Entrepreneurs’ Relief, BADR offers potential tax savings, but it comes with strict […]
Whether you’re a sole trader, limited company or working together as a partnership, you have assets in your business helping you trade. Assets are the things your business owns that hold or generate value. They play a crucial role in keeping your business up and running and are essential for accounting. From the cash in
What Are Business Assets And How to Recognise Them? Read More »
Running a limited company in the UK means you might need to submit a Company Tax Return and pay Corporation Tax on your profits. Corporation Tax is a tax on the profits made by limited companies and other types of organisations, like members’ clubs or trade associations. Profit is the total income left over after
How Do I File My Company Tax Returns and Reduce Corporation Tax Bill? Read More »
When starting a business, one of the most important decisions you will face is which business structure to choose. The most common options are operating as a sole trader or forming a limited company. Each comes with its own advantages and disadvantages, and making the right choice for your situation can affect everything from tax
Understanding Limited Company Advantages and Disadvantages | Accountant Insights Read More »
When you’re running a business, one of the key decisions you’ll make is how to pay yourself. Whether you’re a sole trader, limited company director, or partner in a business, getting the balance right between remuneration and keeping your business financially stable is crucial. Let’s explore the best ways to pay yourself, outline key considerations,
How to Pay Yourself as a Small Business Owner: A Complete Guide Read More »
Starting and running a limited company in the UK comes with the potential for significant tax savings, and one of the key areas where this can be achieved is through claiming allowable expenses. But what exactly are allowable expenses, and how can they help reduce your corporation tax bill by claiming the right tax relief?
Allowable Expenses for Limited Companies: What Can You Claim? Read More »
Here we go! The age old question. To be, or…When embarking on the path to self-employment, one of the key decisions you’ll need to make is the type of business structure you want to operate under. Two of the most common options are running a limited company or operating through an umbrella company. Each structure
Understanding Limited vs Umbrella Companies: 5 Steps Read More »
With the UK contractor landscape constantly evolving, IR35 stands out as a critical piece of tax legislation that contractors need to understand. Originally introduced to combat tax avoidance through ‘disguised employment,’ IR35 has undergone numerous reforms that continue to affect how contractors and businesses operate today. In this guide, we’ll walk you through what IR35
If you’re running multiple connected businesses, it’s natural to wonder whether each one can claim Small Employer Relief (SER) for Statutory Maternity Pay (SMP). Understanding the rules around SER is crucial, especially when trying to maximise tax benefits for connected companies. In this guide, we break down everything you need to know about SER, how
Can Multiple Connected Companies Claim Small Employer Relief for Maternity Pay? Read More »
If you’re a business owner, you might be considering ways to reduce overhead costs, like rent, by converting part of your home into a commercial space. Many Owner Managed Businesses (OMBs) in the UK are choosing this path. But before you get too far into the renovation plans, there are a few tax implications to
5 Tax Implications for Renovating Your Property for Business Read More »
