Starting a business in the United Kingdom can be a daunting task, but choosing the right business structure can make a big difference. If you're considering a limited company (LLC), here are some advantages you don't want to miss: Simplified Process and...
Filing taxes in the UK is a mandatory legal requirement for any individual, business or organization that meets certain criteria. While you may be tempted to put it off until the deadline, there are numerous benefits to filing your tax return early for...
The benefits of financial planning in business are many, but I would say that, wouldn't I. If you're like most small business owners, you probably don't think of financial planning as one of your top priorities. But did you know that financial planning is one of the...
If you're like most business owners, you think of being financially accountable as a necessary evil. It's something that you have to do, but it's not always fun or interesting. However, what if I told you that being financially accountable can actually...
Tax-free company benefits Today I'm going to talk about trivial benefits and Tax-free company benefits. Firstly, your business can pay your staff, and can pay yourself if you're an employee of your company. These are nice to have, no tax to pay, saves you some money,...
Today's topic is focused on one underused legitimate way of Saving tax with company benefits. Pay yourself and save personal and company tax. And yes, it's important as a business owner, you need to pay yourself. The conventional route to pay yourself is a blend of...
Tax-free benefits for you and your employees Certainly paying tax-free benefits to yourself and/or your employees is a great situation. Most importantly there is no tax or NIC to pay. In addition, your company can deduct the costs from business profits. Above all the benefit must be paid for. In other words, don’t provide the […]
Salary, dividends & benefits Salary, dividends & benefits and how to pay yourself. We will throw some numbers in to show the financial difference. Furthermore we will be looking at other options that can really ramp up the savings. Company owners and directors often ask us “do I pay myself salary and dividends, and how […]
Have you had Class 2 National Insurance Charged in Error? Mistakes with National Insurance create stress and extra cost. Recent Class 2 changes caused confusion and wrong charges. This blog explains what changed and what to do next. You will also see practical tips to...
Earning Tax-Free Income from Renting Out Your Garage Turn Your Garage into a Source of Income Do you have a garage that sits unused? Many people forget the earning potential locked inside that space. Renting out your garage can provide a steady income stream. Even...
Running a limited company means playing by the financial rules. One key rule is around dividends. Dividends must come from company profits. If you pay one without profits, it becomes an illegal dividend. In this blog, we explain the impact of Illegal dividend tax...
Are you a sole trader, landlord, or both? Do you earn from property or self-employment? If yes, Making Tax Digital for Income Tax (MTD for ITSA) could soon apply to you. The rules are changing. Deadlines are coming. Preparation now will save stress later. This guide...
When it comes to claiming business-related costs, understanding which travel expenses HMRC allows can save you time, stress, and money. In this guide, we break down what counts, what doesn’t, and how to handle claims correctly. Understanding Travel Expenses Travel...
How do single directors claim Employment Allowance?. National Insurance costs are rising fast for employers. From 6 April 2025, the Employer’s National Insurance rate increased from 13.8% to 15%. At the same time, the secondary threshold fell from £9,100 to £5,000...