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A selection of our most popular tax guides, focusing primarily on limited companies, with more self-employed guides on the way…

Limited companies can distribute profits they generate via dividends to company shareholders. However, you must ensure that all dividend distributions are legitimate, otherwise you could fall foul of HMRC.
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When you hire a new accountant for your business, you will typically agree an upfront fee to cover the wide array of tax and administrative tasks required to keep your books in order. Here we consider the typical tasks an accountant will provide.
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In this article, we take a overview of the main taxes you will be liable to pay (or collect) as a limited company, and when you have to pay them.
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If you work from commercial premises – either as a tenant or owner, you will probably have to pay business rates to your local council. Here we look at what business rates are, how much you have to pay, and the wide range of ‘relief’ schemes which are available to small businesses.
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If you have registered for VAT, you may well have to wait a month, or more before your application has been processed, and you receive a VAT registration number. A commonly asked question by many business owners is how to account for VAT and issue invoices in the interim?
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One of the questions many limited company owners ask their accountants is how often they can draw down dividends from their companies. Can you declare dividends on a monthly basis, for example?
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If you pay income tax via self-assessment, and have a tax liability for the current year, you may need to make advanced payments for the following tax year too – known as payments on account.
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One of the key announcements from the second 2015 Budget was a complete overhaul of the dividend taxation system from April 2016, which will result in higher taxes for limited company shareholders.
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If you set up a limited company, is appointing an accountant to look after your affairs a statutory requirement, or can you take care of your accounting duties yourself?
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Value Added Tax is charged on almost all products and services provided in the UK. The current standard rate is 20%. If your business becomes VAT-registered, you will charge VAT on all invoices you submit to your clients.
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All limited companies are obliged to file accounting and other information with Companies House and HMRC each year. What happens if you deliver documents late, and how can you avoid penalties?
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Commercial solicitor Leigh Ellis explains why business owners who import goods into the UK should perform crucial due diligence on VAT paid by suppliers in order to ensure there has been no fraudulent evasion – with particular reference to ‘carousel fraud’.
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Several VAT schemes are open to business owners depending on their financial profile. The flat rate scheme was created to make VAT accounting simpler for qualifying businesses, by allowing them to pay VAT at a fixed percentage of turnover rather than on a transaction by transaction basis.
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If you decide to become self-employed, either on your own (as a sole trader), or with other people (as a partnership), you will be responsible for working out and paying your tax liabilities to HMRC.
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Salary aside, most limited company directors (and shareholders) typically draw down most of their income in the form of dividends. Dividends are distributed by companies of all types in order to return a proportion of company profits back to their shareholders.
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If you are a limited company director, you are liable to pay both employers’ and employees’ National Insurance Contributions on any salaries you pay above the current threshold.
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With the start of the new tax year nearly upon us, it’s the perfect time to think about how you can boost your business over the next 12 months. But which areas should you be working on? Emily Coltman FCA, Chief Accountant to FreeAgent, highlights five changes to make that could help you run your business more effectively in the year ahead.
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When is the last time you updated your invoice template? If you haven’t looked at the details of your invoices in a while, it’s a great time to check that you’re meeting all of your legal requirements and helping your invoice stand out from the crowd.
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In this article, we look at the services most accountancy firms can offer to small businesses – with particular reference to limited companies.
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Entrepreneurs’ Relief was created to incentivise people to set up and grow businesses by providing a reduced level of Capital Gains Tax on business disposals.
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