Readers question: I want to open a cleaning company and hire a few people. I am finding it difficult to decide what is the best business structure for me, a limited company or a sole trader? Which would be the best, in terms of tax?
personal allowance
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: We have a small Limited Company with a gross turnover of £20,000. We have paid 20% tax on this figure (cis) leaving £16,000 after tax. We have one employee who has earned £12,000 gross. Are we entitled to a rebate and will there be corporation tax to pay?
Here are the main small business tax rates and allowances for the tax year of 2018/19.
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