News

Latest news releases and FAQs

News and useful information on tax and business issues.
Limited Companies

Dividend tax rise along with National Insurance rise

National Insurance rise It may have been easy to miss with all the hullabaloo about the National Insurance rises, but dividend tax is getting raised too. The broad details of the 1.25% raise to Employee and Employer from April 2022 are here. The government have not yet released exact details on how this will be

Read More »
furlough
Covid19

Furlough is dead

September is the last month for furlough claims The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October. The grant claims for employees furloughed in the month of September are 60% of the employee’s

Read More »
MTD
News

Abolition of basis periods and new tax year end?

Abolition of Basis Periods Along with the impending introduction of Making Tax Digital (MTD) for unincorporated businesses and landlords the government made a significant announcement on 20 July that they would abolish basis periods for unincorporated businesses for the 2023/24 tax year to simplify MTD reporting. That change would apply to sole traders, partnerships, as

Read More »
Sole Trader vs Limited Company
Limited Companies

Sole trader vs. limited company – which one is best for you?

Is it better to trade as a sole trader or a limited company? Many startups start as a sole trader and later incorporate (move the sole trader business into a newly formed limited company). Many articles on the internet discuss the advantages and disadvantages of trading as a sole trader vs. a limited company. Most

Read More »
limited company dividends guide
News

Expert Guide to Limited Company Dividends

Many small businesses in the UK are set up as Limited Companies. There are many benefits to this approach and some legal and accounting concepts that owners need to understand. A Limited Company is a separate legal entity to the owners. As such, the money in the company’s bank account does not directly belong to

Read More »
Limited Company Electric Cars
Limited Companies

Expert Guide To Limited Company Electric Cars

How can I save money putting a car through my limited company? The extra national insurance and personal tax created through the benefit in kind may outweigh any corporation tax and VAT savings you are going to make by putting a car through a limited company. Over the years, the exact answer to this question

Read More »