Limited Company

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This guide explains you how limited company is set and takes you through the processes of maintaining it.         Congratulations on forming your new Limited Company. There are a few key elements to be checked and considered carefully:   … Continued

Year End Accounts

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Your company’s annual accounts – called ‘statutory accounts’ – are prepared from the company’s financial records at the end of your company’s financial year. You must always send copies of the statutory accounts to: all shareholders people who can go … Continued

Business Expenses

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Expenses incurred ‘wholly and exclusively’ for the purpose of trade of your company are called ‘business expenses’ Such money can be claimed from the company and added to the end of year accounts. Below are the most common examples.   … Continued

A guide for new employers

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What an Employer should know You started your own Limited Company, the business is growing, you are doing very well. What you need now is a pair of helping hands, maybe couple of pairs or even more? This guide is … Continued

Pensions

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What is Pension? Your pension generally and simply speaking is a pot of tax free* cash, in which your employer and yourself save money for your retirement. At the age of 55 you can start accessing your saved money and take as … Continued

Late filing penalties

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Accounts and tax returns for private limited companies Late accounts for Companies House Your company will have to pay a penalty charge if you file your accounts after the due date. Time after the deadline Penalty (for private limited companies) … Continued

Professional Indemnity Insurance (PII)

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Professional Indemnity also known as Professional Liability Insurance helps to protect your professional advice and service. It defends you against a negligence claim made by a client, and damages awarded in such a civil lawsuit. The coverage focuses on alleged failure to perform … Continued

IR35

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Stop What is IR35? IR35 is the United Kingdom tax legislation designed to tax “disguised employment” at a rate similar to employment. It has been reviewed in 2010 and affects all contractors who do not meet HMRC’s definition of ‘self-employment’. … Continued

Should I register for VAT?

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A common question among small business owners is whether or not they should register for VAT and what is the Vat Threshold? We will discuss benefits and disadvantages, voluntary registration, how does Vat work and a little bit about different … Continued

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