Archive for 2016

In its simplest terms, Companies House is Registrar of Companies in the United Kingdom. It holds information on all limited companies in the UK, overseeing the incorporation and closure of all businesses. About Companies House Launched in 1844, Companies House holds information on over two million operating companies in the United Kingdom alone, with an […]

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If your company has ceased trading for a period of over 3 months, you can begin the process of closing off your limited company, provided that all conditions are met discussed below. There must have been no business carried out by the company during this time You must not have changed your company’s name Your […]

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INCOME TAX NOT CGT ON PROPERTY SALE Finance Act 2016 brought in new rules to ensure that overseas property traders and developers are subject to UK income tax or corporation tax when they dispose of UK properties from 5 July 2016. However the way in which the legislation is drafted may catch some buy-to-let landlords. […]

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A Limited Liability Partnership (LLP), like a limited company, provides its stakeholders with limited liability. However, LLPs are taxed in a similar style to self-employed partners. This business setup is very popular in professional services such as legal and accounting practices. Put simply, an LLP affords the tax versatility of a partnership, but the benefits […]

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CHRISTMAS IS COMING! NEW RULES FOR GIFTS TO STAFF From 6 April 2016 new rules were introduced to allow employers to provide their directors and employees with certain “trivial” benefits in kind, tax-free. The new rules are a simplification measure so that certain benefits in kind will not need to be reported to HMRC, as […]

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Thinking about setting up a limited company? You may be surprised to learn that you can actually incorporate a new company for less than £20. In this article we’ll take you through various incorporation costs, depending on the services that you choose, as well as any additional costs that you might incur during the process. […]

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1. What is “Making Tax Digital” Making tax digital was an initiative introduced by the government in the March 2015 Budget and was heralded at the time as the “death of the tax return”. It is the biggest shake up in the tax system since self assessment was introduced 20 years ago and is probably […]

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self employed

Without a doubt, setting up as a “self-employed” is the simplest and most popular way to structure a business. Sole traders account for over 60% of all businesses in the UK, with partnerships making up a further 9%. In this article we’ll explore the definition of a sole trader, with a focus on some considerations […]

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REPORTING TO HMRC EVERY QUARTER TO GO AHEAD IN 2018 The Government and HMRC remain committed to the “Making Tax Digital” project with more information being sent online to HM Revenue and Customs (HMRC) by employers, pension funds, banks and other institutions. The next big step will be the introduction of quarterly reporting of income […]

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Money-saving tips for business owners Throughout the ups and downs of running a business, the companies which make it time and time again are those which manage their cashflow well from the outset. We’ve compiled a list of simple yet useful tips to business owners to help increase operational efficiency, whether you’re just starting out, […]

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