Category: Blog
The Spring Budget 2023
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 billion ...
Limited Company key dates throughout the financial year – your responsibilities and what you need to file with Companies House and HMRC
As a director of your Limited Company you’ll have legal responsibilities, including filing / submitting various forms and returning them to Companies House and HMRC throughout the financial year. If you’re new to running a Limited Company you may ...
What is your company yearend and what do you need to know?
When you own a Limited Company you must complete a yearend, but what is it, what information does it need to include, and why do you need to do it? Our blog answers all these questions and more, to ensure ...
How to maximise your tax efficiency before tax year end 5 April 2023
Allowable expenses Claim all of your allowable expenses Ensure paid invoices have been recorded – chase those you’re still awaiting payment for Keep receipts 6 years after accounting period ISAs Use your ISA allowance £20,000 ...
2023/24 Tax Changes / Rates
National Insurance & Tax Tax-free personal allowance - £12,570 Basic rate – 20% - up to £37,700 Higher rate – 40% - from £37,701 to £125,140 Additional rate – 45% - above - £125,140 ...
What is the best accounting software for my business?
Nowadays many businesses use online accounting software to take care of their bookkeeping requirements alongside using an accountant to offer advice and keep you compliant with HMRC. So what do the main providers have to offer? Here we take a ...
Limited Company Expenses Guide – Maximise take home pay and reduce your tax bill
It is vital to understand what expenses can be claimed through your Limited Company in order to reduce your tax bill and keep more of your hard earned cash. Understanding those genuine expenses and those that are pushing your luck ...
What business structure is right for you?
You’ve made the decision to be your own boss, congratulations! But have you decided which business structure is best for you? Here we take a look at some of the options available. Sole Trader Someone that is self-employed and runs ...
Learn about dividends
As a Limited Company owner you’ve probably heard the term dividend banded about. Here we take a look and learn all about dividends. So what is a dividend? The first thing to establish is that salary and dividends are different. ...
What is a Sole Trader?
Starting out in business can be daunting, and knowing what is the best option for you is the first decision to make. So what is a Sole Trader and what does it mean for you? Here we take a look. ...
What is a Limited Company?
Starting a new business venture is exciting, but choosing the right business structure can be daunting. Here we take a look at the Limited Company option. The main difference between a Sole Trader and Limited Company is that a Limited ...
Top tips for a successful business
2022 saw an increase in the number of new business registered at Companies House. So how do you make your business a success? Here we look at some key tips. Success comes from planning Get yourself a solid business plan ...
Sole Trader Expenses Guide – Reducing your tax bill with allowable expenses
Understanding what expenses can be offset against your income will help you bring down the amount of tax you pay to HMRC, meaning you keeping more of that hard earned cash. Here, we have put together some key expenses that ...
Paying into your pension
When you run your own business it is important to think of the future. When you are employed you have the security of a pension. So what are your options as a Limited Company owner? Here we take a look. ...
The Autumn Statement 2022 – Full Report
Since the reversal of Liz Truss’s tax policy changes last month, new PM Rishi Sunak and Chancellor Jeremy Hunt have promised a new statement, concluding that now is the right time to proceed with a package of tax cuts. In ...
BREAKING NEWS – Repeal of IR35 reforms and back track on Corporation Tax
Jeremy Hunt, The Chancellor of the Exchequer, has today scrapped the plans to repeal the Off-payroll IR35 Reforms, which had been announced by Kwasi Kwarteng on 22 September 2022. As part of his ‘Growth Plan’, Kwarteng had set out a ...
MINI BUDGET SEPTEMBER 2022
The mini budget - what it means for contractors Well that was a big U-TURN affecting the contracting industry! The (not so) mini-budget delivered by new Chancellor, Kwasi Kwarteng last Friday, had a lot more in it than anyone expected.Repeal of the ...
Taxevo’s top tips on being ready for the Corporation Tax Rate increase in 2023
One major announcement from the March 2021 Budget was that from April 2023 there will be an increase in Corporation Tax. So what does this mean to you and your business? In this blog we explore what’s changing, and how ...
Summer socials and entertaining staff – what you can claim as a business expense
The schools are out, the sunshine has (finally) made an appearance and everyone is looking forward to enjoying their summer, hooray! So you might be thinking about hosting an event for you and your Limited Company employees, but who foots ...
How to borrow money from your Limited Company and the associated tax risks
You may find that from time to time you’ll need to borrow money from your Limited Company, so how do you go about doing so, what are the risks and is there anything you need to be aware of? In ...
