There are many reasons why you may be looking to close down your limited company, retirement, to go back to full-time employment, or perhaps back to being a sole trader. So what are your options, and how do you know which is best for you? Top tip: If you’re earning enough money but are closing […]
Disaggregation is when business owners seek to avoid charging VAT by splitting their business into different parts to ensure each operates under the VAT registration threshold. For a limited company, some business owners may look to establish separate companies. A sole trader may seek to establish separate trades. There can be compelling reasons for splitting […]
Are you a seasoned veteran of running a limited company or just starting out for the first time? Whatever the case, there are often limited company expenses that go unclaimed, which means you could end up paying more tax than you need to. We’ve put together this article to help you make the most of the tax relief […]
Whatever size your business is, you will need to keep accounting records and regularly produce accounts. It is of course necessary in order to keep HMRC happy that you are complying with the law. For limited companies, the accounts also need to be filed with Companies House. However, the most important reason to keep your […]
A limited company is one of several legal structures a freelancer may choose to run their business – the other common structures being sole trader or through an umbrella company. A limited company is a legal business structure where the liability of each shareholder is limited to their individual investment. This is known as limited […]
Capital Gains Tax comes into play when you make a profit from selling something you own. The important point to remember is that the tax is calculated on the profit you make, and not the amount you sold it for. As the name suggests, it’s all about the gain! So, Capital Gains Tax is essentially […]
Whilst a shareholder and a director of a company can be the same person, especially if it’s the person who set up the company, the two roles do have pretty clear distinctions. That said, a director doesn’t have to be a shareholder, and shareholders don’t need to be directors. So what’s what? What is a […]
Generate leads for your business – the ultimate checklist Got a fantastic business idea but struggling to generate leads? Or worse, you’ve worked hard to get leads, but lost them in the great GDPR purge of May 25th 2018? You’re not alone. Lead generation is a vital part of running a small business, but even seasoned self-employed […]
Can I claim my lunch expense as a business cost? Claiming back the money you spend on food is allowed if you’re self-employed – but you can’t just claim everything you eat. So, what’s the deal with claiming your lunch expense as a business cost? Being self-employed gives you the ability to claim back any […]
Small business taxes – what you need to know Starting your own business is a truly exciting life decision, allowing you to pick your own gigs and do things your way. On the other hand, failure to get familiar with the small business taxes you’ll need to pay can have major consequences when the taxman […]