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 »
Stock dividends can offer an appealing alternative to cash dividends for shareholders, but the tax implications can be complex, especially for non-UK domiciled individuals. If you’ve recently received stock dividends from both UK and non-UK companies, it’s crucial to understand how these are treated for tax purposes in the UK, and whether the remittance basis
Tax On Stock Dividends for UK Resident Non-Domiciled Individuals 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 »
