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How can I reduce Corporation Tax 2022?
You pay a corporation tax rate of 19% on the profits made by your limited company and this is due to increase to up to 25% from 1 April 2023. Profit is defined by HMRC, in the strictest sense, as whatever is left from your revenues after you’ve paid for everything you had to purchase…
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How to reduce Corporation Tax?
You pay a corporation tax rate of 19% on the profits made by your limited company and this is due to increase to up to 25% from 1 April 2023 following the Spring Budget. Profit is defined by HMRC, in the strictest sense, as whatever is left from your revenues after you’ve paid for everything…
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How much interest do HMRC charge?
HMRC expect everything you owe them to be paid on time and in full – but you already know that! Less well known though is they’re willing to help both personal and corporate tax payers if they’re unable to meet their obligations by the date due but, and this is important, you first must apply…
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How to close a limited company
Around 10% of businesses close each year for a variety of different reasons. It could be that the owners want to retire, a company is bought out and merged into another, or a business runs into financial difficulty and it can’t meet its creditors’ bills. Unfortunately for directors and shareholders, closing a limited company is…
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What is HMRC Time to Pay (TTP)?
In the ten years and more since the financial crisis of 2008-2009, HM Revenue & Customs (HMRC) have agreed many more late payment plans to help out individuals and companies who temporarily do not have the money needed to settle their forthcoming tax bills in full. Self-employed individuals and directors can spread the cost of…
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The Black and White Guide to: HR Accounting and Tax: Payslips, Payroll and Pensions
Whether you’re a business owner, head of department, self employed worker or just starting out, there is a whole world of national insurance, tax and employment legislation to navigate. We’ve put together a guide to some of the recent changes and latest practices to follow when employing, rewarding and retaining staff.