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As a limited company owner, your company is liable to pay Corporation Tax on its profits. All UK companies are liable to pay tax on their profits, regardless of where in the world these profits were accumulated. We have put together this guide for your to understand what corporation tax is, how to account for it, be able to calculate it and the corporation tax rates and allowances.
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It is not uncommon to experience delays in a business only to be slapped with the phrase, “that’s how we have always done it.” While some tasks need to follow a specific process, you will agree that other processes are complicated for no good reason.

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When starting a small business, one of the first things to be decided is the legal structure used for the business. It can either be a sole trader or limited company or a partnership. Setting up as a sole trader is the most popular legal structure in the UK, with approximately 3.5 million sole proprietorships in 2019. Sole traders accounted for 60% of small businesses in the UK. There were also 1.9 million limited companies, making it the second most popular legal structure.

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There are several different kinds of limited companies available to set up in the UK. Limited companies are the second most popular business structure in the UK, only coming second to sole traders. The type of limited company structure chosen for a business will depend on various factors such as the number of shareholders, the responsibility that the shareholders have and the level of involvement by the public. Each has their own benefits, so each business will need to decide what is the most suitable structure for them.

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If you have started a business or are thinking about starting one, then you will need to decide on a business structure. You can choose to create a limited company, work as a sole trader or a partnership. Each business structure varies, especially when it comes to accounts and the bookkeeping. Sole trader owners are classed as self-employed, therefore they have their own set of tax rules and regulations to adhere to.

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Strong advertising is perhaps the most powerful feature of any successful marketing campaign. Advertising is where a business makes itself seen to the world, and is how the majority of customers and clients will first interact with a brand. After all, customers can only be drawn to a company once they know it exists!

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When your company turnover reaches the ‘VAT threshold’ (currently £85,000) in a twelve-month period, you must register for limited company VAT. Even if you don’t, there may be professional reasons why you would want to register anyway. So, how does the VAT registration for limited companies work?

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If you set up a limited company, you are not legally required to appoint an accountant, although there are multiple benefits of doing so. In this article, we discuss if appointing a limited company accountant to look after your affairs a statutory requirement, or if can you take care of your accounting duties yourself?
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Many business owners, including contractors, may have found it difficult to secure a competitive mortgage in the past. However, more enlightened lenders and mortgage brokers are happy to provide a mortgage for limited company directors, who may find it hard to prove income on a ‘traditional’ basis.

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There is a range of expenses you can claim for whilst running your business. You will incur a wide number of limited company expenses during the course of your work, ranging from printing and postage costs to purchasing computer equipment.
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The sole trader business structure is the most popular in the UK. In 2019 there were approximately 3.5 million sole traders, accounting for 60% of small businesses. The sole trader structure has been popular due to its many advantages and the ease of setting up. Sole trader business owners are known as self-employed and most freelancers opt for this structure of the business. There are both advantages and disadvantages of the sole trader business structure that need to be taken into account before making any business decisions.

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The year 2020 has seen a steep uptick in people working remotely. This is changing how businesses are communicating with customers. Many businesses have moved their communications to the cloud to make employee customer interactions seamless. Still, some businesses fear that having employees work remotely will inhibit their ability to successfully connect with customers.

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Readers question: My wife and I are both independent sole traders. My wife is an artist and illustrator and I run a small cafe. My question is, how do we change from being independent sole traders to registering as one company so that we can trade as one entity as a limited company?

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The last few months have been, shall we say, ‘challenging’ for many business owners and when you’re faced with constant stress and uncertainty it can be easy to lose the passion you once felt for your business. The good news is; you can reconnect with that passion, and use the opportunity to create a new balance in your life.

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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?

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Venturing into the international marketplace provides you with the opportunity to sell products at a larger scale. You might have been long considering entering into this marketplace, or you may have recently decided that this step can help you to increase the business’s profits. In any case, learning some strategies for succeeding in the international market can boost your chances of success.

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As businesses start opening up again in the UK, many small companies are asking themselves the same question: “How to really get my business going after three months of hardship?”

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Today, more and more businesses are making the commitment to sustainable and eco-friendly business practices, not just to appeal to discerning customers, but to save money in the long term, too. Big or small, businesses can’t afford to ignore the growing climate crisis and the responsibility to do their part. Fortunately, giving your business a green makeover is easier than it sounds, and a little goes a long way.

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A good sign of business growth is the need for more staff. As your business grows, one of the most important roles you will have to fill is an IT/Tech support professional within the business. Majority of the businesses in today’s world will need some sort of IT support for the business and its employees, in order to work efficiently. IT staff can ensure that your other staff are able to effectively work as well as finding new tech to support your business whether this is new software or new equipment.

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Despite more shops opening as the lockdown is being eased there are still many businesses that will remain closed or at best will be operating at reduced capacity for a while yet. A large number of employees will stay on furlough until autumn.  All this means that ‘business as usual’ is a long way off. Unless your business happens to be one of those fortunate ones that have been doing well since the lockdown started, you may be seriously concerned about survival.

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Top Articles

Do I need an accountant for my limited company?
Find out what a limited company accountant could do for you.

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How much limited company tax do I have to pay? Find out the latest tax information for limited company owners.

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