a little tax tip

Remember that dividends are paid after allowing for Corporation Tax.

More.

 

do they care?

A lot of our clients complained they never heard from their old accountant from one year to the next. In addition to our newsletter, if we haven't heard from our clients, we'll happily call them - if only for a chat (and of course it's free).

did you know...

....you can save tax through running payroll?

If you run your own limited company then you should consider implementing payroll to Image showing calendar with word payday and pile of copper coins to illustrate payroll services for small businesses which Inca provides to its clients to save them over £1700 per annum in tax.utilise your personal tax free allowance. All taxpayers are entitled to earn £6475 free of tax per annum. If you were to take this as a dividend from your company, it would be taken after Corporation Tax.

In order to give you a dividend of £6475, the company would have to make nearly £8200 in profits before tax. Taking the same earnings as salary would mean a saving of over £1700 in tax per shareholder/director.

Inca operates payroll for a number of clients. As part of this service, we guide the directors as to the most tax efficient salary to draw each month, while also running traditional payroll for their employees. We produce the payslips on a weekly or monthly basis, depending on the client's needs.

We guide the client as to when and how much needs to be paid to HM Revenue & Customs each month, handling new starters, leavers and all the year end filing. Our payroll services operate on standard fees, all quoted in advance, so there are no surprises.

To learn more about Inca's small business payroll solutions, please call Graham or Claire on 0845 644 3579.

did you know?

Small businesses can save even more tax and effort through the flat rate VAT scheme. More...

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