Readers questions: My year-end is 31st January, I have two companies, can I pay dividends out of one? We have made £160k profit so far this year.[continue reading…]
Ask the Experts
Readers questions: I’m in my first year of running my limited company, and I am the Director and only employee. I haven’t paid myself any salary in this tax year yet, because I earnt a salary in this tax year before I set up my business. My Limited Company will reach it’s one year anniversary in mid-May 2020. My question is, is it tax efficient to pay myself £8632 next financial year, and before mid-May when my Limited Company reaches its 1st anniversary, to minimise corporation tax payment?[continue reading…]
Readers’ Question: I’ve just completed a job for my first client and I need to invoice them but I don’t know where to start. How do I write an invoice and what should I include?
Readers’ Question: What happens when a Limited company has only one official Director and that person dies suddenly?[continue reading…]
Reader’s question: I am interested in setting up a company and would like to associate it with a particular name. When searching companies house I found that the name I was interested in had been registered in the past but the status was showing as ‘DEAD’. Would you be able to advise what this means and whether I would be able to use this name?[continue reading…]
Reader’s question: I have a limited company, formed in 2004 and believe we only have two ordinary shares of £1 allotted. I thought it was 100 but we cannot locate our articles of association. Assuming our accounts say 2 ordinary shares of £1 each presumably that is the case?[continue reading…]
Readers question: If I have three separate Limited company businesses, can I pay myself a salary/management fee from each one or only the one?[continue reading…]
Readers question: I am one of two company directors in an ltd company. My partner in business has been told by her midwife that she is entitled to 90% of her salary while on maternity leave. For us to pay her, we would need to employ another person to do her job, this would put the business in financial difficulty. Is this the case?[continue reading…]
Readers question: How do I pay myself as an employee of my limited company?
Readers questions: I have a limited company and I am the only person who works for the company and I am the only director. Will I get the government grant for COVID-19 as self-employed?[continue reading…]
Readers questions: I am the owner of my Limited company and at the same time I am the only employee of the company. At this moment I am pregnant and I may stop working soon. I do not know what will happen if I stop working and where to go from here. Any advice?[continue reading…]
Readers questions: Can I be a limited company if I am a not a UK tax resident? I left the UK 7 years ago and live in Spain. I have been asked by an agency who I will be working overseas for, to supply invoices for work done. Can I issue an invoice to this agency without being registered as a limited company?
Reader’s question: I’m wanting to open a bar and would be seeking investment from two parties, after the initial investment they won’t have any further involvement, from this I gathered the best way to structure the business would be as a Private Limited Company. My problem is that I am not in a position to contribute financially so would be seeking 100% of the required capital to establish it, which would, therefore, mean they own 100% of the business. Is it possible for me to retain any sort of ownership or portion of shares through a prior agreement?
Reader’s question: I am about to start working for several companies as a self-employed transport consultant. Which would be better for me limited company or sole trader?
Reader’s question: As the sole director of my own company, if I pay myself £200 per week does this mean my corporation tax will be less? And what amount of dividends can I take?
Readers question: I own a limited company that is solvent and, due to medical issues, I wish to close it. My question is, as the MD of the company, can I close it and receive a tax-free redundancy payment of £30,000?
Readers question: I have a limited company and I have taken 1% dividend for my grandchildren to pay for their school fees. I have opened a trust account where this 1% will be put into so let’s say the cost of the fees is £17,000 per annum, how much money do I need to transfer into this trust fund? Also how much corporation tax do I need to pay on this transfer?
Readers question: I incorporated my company name in 2007 with the initials “CLA” included as part of the full name. Recently I received a letter from lawyers representing another company who also use “CLA” in their company name and want me to rebrand and stop using CLA as part of the full name. I noticed they registered a trademark for CLA in 2009. I also notice there are hundreds of companies using CLA as part of their full company name. Can you please advise if I will be forced to change my company name?
Readers’ Question: I want to start a business and have looked at both the sole trader and limited company structure. I think that running as a limited company will be better for me. What is the best and most cost-effective way to register a company?
Readers question: I want to give my shares from my limited company to my partner, so my question is how do I transfer shares to a partner of my limited company?