The flat rate scheme of VAT registration is often preferred by small businesses. Registering under the flat rate scheme instead of registering under the standard rate can reduce the amount of vat that your business has to pay to the government. The standard rate of VAT is currently 20% (2013) whereas the flat rate scheme [...]
Have you met all those important deadlines? Is there a deadline looming for you or your business that you need to keep on top of? Here we round up the latest deadlines that you may need to be aware of. This latest update on what deadlines are currently due for personal and business taxpayers plus [...]
Business bank accounts with no credit checks required. It is now possible for anyone to open a business bank account irrespective of their credit history or personal circumstances. The only requirement is that the directors and shareholders of the company must be UK residents. The guaranteed bank accounts can be opened within 4 to 6 [...]
PAYE was first introduced over 70 years ago and the move to Real Time Information (RTI) is the biggest change to reporting taxpayer information to HMRC since it was started. The latest changes have been implemented to provide up-to-date information to HMRC instead of filing returns at the end of the financial year. It is [...]
At present Companies House send filing reminders by post to the registered office address of UK limited Companies. They have now introduced an option for companies to receive these filing reminders electronically by email. Receiving electronic filing reminders for your company is an ideal way to prevent missing important reminder notices from Companies House. Every year UK companies [...]
Many business owners register and operate more than one limited company. This can be for several reasons including company name protection, establishing a group of companies, managing different business activities etc. One reason you should not form a second company is to evade tax or to artificially separate business activities to avoid registering for VAT. [...]
Within a few weeks of starting a business, you are likely to face many new challenges. There are responsibilities you may not have considered or may have planned to deal with at a later date. Before long these jobs have to be tackled and trying to complete them yourself may be a false economy in [...]
Accountants provide advice on a wide range of subjects and help to prepare company accounts and financial statements. HMRC allow your company to claim a tax deduction for some of the fees that your accountant will charge. Your accountant may have helped you to set up your company, you may have received advice on the [...]
