would you like to know how well your business is doing?
We provide bookkeeping for a number of clients either here at Inca or at the client's location. Our clients benefit from a clear understanding of the situation in their business, how much tax they have owing and how much they can draw as income. If this would help your business then please contact us for a chat, we'd be delighted to try to help.
did you know?
Company owners can save over £1700 in tax through payroll. More....
hints and tips
Sole traders can use a mini cash ISA for savings rather than their business account
Sole Traders are regarded as individuals for tax purposes, therefore the money in the 
business bank account belongs to them rather than the business. Any interest earned on this money is subject to tax of 20% at source.
Sole Traders can instead open a mini-cash ISA and invest up to £3600 per annum (£5100 for over 50s). The interest earned grows tax free. Many sole traders use this kind of account to save for their annual tax bill in January and their July payment on account.
Remember that if you have a partner, they also receive the same annual mini-cash ISA allowance which could also be funded by the business.
Unfortunately, this is not allowed for limited companies as the money belongs to the business.
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