Viewing posts in category 'Chartered Accountants in North London'

working with an accountant
14
Jan

How to become a limited company

Whether your business should become a limited company depends primarily on the individual circumstances of the business. One of the key factors determining a move to limited company status – or indeed setting up a business as a limited company from the outset- is the possibility of making a financial saving.

Why should I become a limited company?

Businesses with both small Continue Reading
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Posted By Philip Woolfson
Tax Advice
11
Feb

Small Business Tax Issues

Setting up on your own could be a long-held dream that you have been working towards for years, it could be an opportunity only made possible by a redundancy payment or may simply be your only option where there are limited permanent employment alternatives. Whatever the reason, you need to be aware that the small business tax rules for the self-employed are significantly more comp… Continue Reading
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Posted By Philip Woolfson
late payments
07
Feb

What Employee Benefits Are Not Taxable?

In a previous post we looked at checking your PAYE system is correctly set up and which expenses are and are not liable to tax, but there is also a wide range of employee benefits that are not liable to tax which we’ve summarised below. But as always, even when a benefit is not taxable, take care to record all amounts paid out on employee benefits and record exactly what the payment… Continue Reading
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Posted By Philip Woolfson
Accountant in London
29
Jan

Is HMRC Tougher on Small Businesses Than Multi-Nationals?

According to a BBC news report, a committee of MPs has suggested that HMRC have not been using all of their available powers to vigorously pursue unpaid tax from multi-national companies and have, in contrast, been tougher on small businesses. The group of MPs feel that the tax authority should seek to prosecute global internet-based companies in order to determine exactly where… Continue Reading
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Posted By Philip Woolfson