Are you the director of your Limited Company? If so, then you must pay employers’ as well as employees’ National Insurance Contributions on salaries that your company pays out (which are above the NI threshold). National Insurance Contributions are only payable on salaries, not dividends, so there are significant tax benefits to company directors taking […]
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How to pay yourself as an employee of your limited company Through your Limited Company, in most cases, you will pay yourself via a combination of salary, dividends and perhaps through contributing to a pension too. The most important thing to keep in mind when paying yourself is to plan for tax well in advance, […]
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When starting up your own business, the alternative to setting up a limited company is to register as a sole trader or become a member of a partnership. If you decide to trade as a sole trader then you will be classed as ‘self-employed”. The following guide advises how to register as a sole trader […]
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Tips on managing invoicing for your small business Your newly formed business may have a fantastic product and high-value customers, however if your clients don’t pay for your product and services then your business could soon fail. Managing your invoicing is therefore a crucial part of running your business. To benefit your cashflow you must […]
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Choosing an accountant for your small business Knowing how to choose the right accountant for you and your small business is crucial. An accountant can act almost as a business partner, a trusted peer who can provide guidance, especially in understanding complicated taxes and processes. For your business to grow, you will need a good […]
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Do you need a dedicated business bank account? Once you’ve set up a new business, it is important that you have established banking facilities before you commence trading. The question is, can you use your personal bank account or are you required to create a small business bank account? The answer wholly depends on the […]
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How you can stay on top of your business finances One of the biggest stresses for small business owners is maintaining control over their finances. This is because financial security will determine the success and future of the business. Small business owners face many challenges ranging from building and sustaining a customer base to managing […]
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The Basics of Limited Company Tax As a new business owner of a limited company, understanding Limited Company Tax plus any tax obligations is critical to your daily operations. When setting up your limited company you will encounter various types of tax, however don’t let dealing with these deter you. Owning your own company can […]
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How to stay on top of your business finances One of the biggest headaches that many business owners come across is managing to keep on top of their finances. Business owners can find it extremely stressful managing the company finances, as their financial position, really can be the making or breaking point for many small […]
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Limited companies – what is share capital? So, what is shared capital within a limited company? Well, the easiest way to explain it is that it is the amount of money that is invested by the business owners which are exchanged for shares of ownership, typically the Company Directors will be shareholders in their business. […]
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