a little tax tip
Ask for a receipt or invoice for any purchase you might want to allocate to the business.
did you know?
Small businesses can save even more tax and effort through the flat rate VAT scheme. More ...
hints and tips
If you are making personal pension contributions, it would be better to transfer them to your company
As a basic rate tax payer, you receive tax relief at source on personal pension contributions at 20%. However, if you own your own limited company, you can have these contributions paid by the business. The company will save 21% corporation tax on the contributions. 1% isn’t much of a tax saving, but it helps.
This doesn't apply to sole traders who declare their pension contributions as part of their tax returns.
You might want to consider paying contributions for your employees in lieu of a pay rise. You'll save employer's national insurance of nearly 13% on the contributions and they will save tax and employee's national insurance.
need to form a company?
We can set one up for you, often the same day, all for a standard fixed fee. We can also act as the registered office and company secretary if you need these options and we'll even guide you as to the best choices to make. Contact us to chat through your needs.
no nasty surprises
Clients told us they hated getting a bill sprung upon them from their accountant without any real explanation as to what it was for. We went a step further. We agree fixed pricing on our work in advance. It's part of our commitment & philosophy.
