Are you claiming the new Employer’s Allowance?
Are you claiming the new Employer’s Allowance? One of the welcome changes confirmed in the 2014 Budget is the new Employer’s Allowance, which entitles most employers to reclaim up to £2,000 in Employer’s National Insurance. The aim of the allowance is to reduce the cost of employing people, and thus generate more jobs. The new […]
Claiming the cost of childcare from your Limited Company
Claiming the cost of childcare from your Limited Company If you are an employee of a Limited Company then you can claim a set amount per week, or per month, toward the care of your children. The childcare has to be via a registered provider, and in many cases this will include private schools and […]
Research and development claims for small companies – how to claim
Research and development claims for small companies – how to claim Small and medium sized companies can potentially claim for tax relief against their research and development (R&D) expenditure under HMRC’s Small and Medium-sized Enterprise Scheme. The idea behind this is to encourage innovation in general and to support the growth of smaller businesses. When […]
Research & Development claims from small companies – what qualifies for R & D tax relief
Research & development claims from small companies If you are a small or medium sized company who has invested in significant research and development activity it could be worth finding out if you qualify for R&D tax relief from HMRC under the Small and Medium-sized Enterprise Scheme. This will effectively act as a contribution to […]
Dividends – when can you pay, what paperwork do you need to complete, when is it taxed?
Dividends – when can you pay, what paperwork do you need to complete, when is it taxed? Taking money out of your Limited Company by paying dividends can be an extremely tax friendly way to extract and distribute the profit you’ve worked hard to earn. It’s important to make sure you’re doing this in the […]
Childcare payments
Childcare payments through a Limited Company – a reminder of what you can claim From 6 April 2011, childcare payment allowances are calculated on your income in the year. The new rates are as follows: Basic rate – up to £55 per week Higher rate (40%) – up to £28 per week Top rate (50%) […]
Dividend declarations and vouchers – make sure you have these in order before the tax year ends
Dividend declarations and vouchers Preparing for the end of the tax year can be a stressful time for contractors. Working with a contractor accountant can help ease this as they will be able to guide and prompt you to ensure that you have all the right information to hand in readiness. If you are set […]
Declaring dividend vouchers
Declaring dividend vouchers When I declare a dividend must I also complete the vouchers and board minutes? For tax purposes when is that dividend actually paid? Do I need to take extra care before and after the 5 April? If I change my mind or don’t have enough profits to cover a dividend how do […]
Benefits vs dividends: what’s the best option?
Benefits vs Dividends Business going well? Unsure how to reap the rewards of your hard work? Today we’re taking you through the most tax-efficient methods of extracting cash from your business. As a business owner or director, it’s understandable that you want to reap the financial rewards of your venture’s success – and do so […]