A personal limited company, owned by an individual, is a distinct legal entity that provides personal liability protection. The company is accountable for meeting its tax obligations and fulfilling all statutory responsibilities. We will establish your own personal limited company, with you as the sole director and shareholder. Our incorporation service covers the registration of all pertinent taxes, including Corporation Tax, PAYE, auto-enrollment, VAT, and Self-Assessment for one or more directors. You will be required to open a dedicated business … Continue reading “Limited Companies”
Self-Assessments
Posted on May 23, 2023July 19, 2024Categories ServicesThe Self Assessment system is designed to gather Income Tax from individuals and businesses not subject to PAYE. It must be submitted to HMRC following the conclusion of the relevant tax year (5 April). You may be required to file a tax return if you: If you find yourself overwhelmed with personal commitments or career responsibilities, we offer comprehensive services ranging from bookkeeping to ensuring timely tax return filing. Additionally, we provide valuable guidance on managing tax liabilities.
Spring Budget 2023
Posted on March 16, 2023August 25, 2023Categories UpdatesOn 15th March, Chancellor Jeremy Hunt announced the following in his statement: Pension Corporation tax Capital expenditure for companies Also announced :
Autumn statement 2022
Posted on November 17, 2022July 5, 2023Categories UpdatesChancellor Jeremy Hunt announced today that are relevant to businesses and individuals: For further info, please visit The Autumn Statement 2022 speech – GOV.UK (www.gov.uk) Information are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
What’s in the mini budget?
Posted on September 23, 2022July 5, 2023Categories UpdatesThe new Chancellor of the Exchequer Kwasi Kwarteng has announced his mini-Budget on 23rd September 2022 Income tax National Insurance Corporation tax Other Benefits Information are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
April 2023 corporation tax rate increases
Posted on August 23, 2022July 5, 2023Categories UpdatesUK trading companies currently pay corporation tax at the rate of 19% on their taxable profits. However, for the financial year commencing 1st April 2023, the main corporation tax rate is set to increase to 25% where profits exceed £250,000. A new ‘small profits rate’ of corporation tax of 19% will apply where profits are £50,000 or less. Profits between £50,000 and £250,000, they will pay Corporation tax at 25%. Information are made available to you only as self-help tools … Continue reading “April 2023 corporation tax rate increases”
HMRC late payment and repayment interest rates increase
Posted on August 23, 2022August 25, 2023Categories UpdatesFollowing the change to the Bank of England bank rate, Her majesty’s Revenue and Customs (HMRC) will be increasing interest rates. From 23 August 2022, the rates will be:Late payment interest – 4.25%Repayment interest – 0.75%Up to that date the rates will be 3.75% and 0.5% respectively.