Wokingham Accountants
Salary vs Dividends – A popular profits extraction strategy for personal and family companies is to extract a small salary, taking further profits as dividends. Where this strategy is pursued for 2019/20, what level should be the salary be set at to ensure the strategy remains tax efficient? As well as being tax effective, taking … Read more
Running a limited company isn’t always a walk in the park. There are a lot of different things to understand, from the rules around salaries and expenses to corporation tax and VAT. And there are a lot of things that can cause you some major problems if you get them wrong. If you’re just setting … Read more
The tax system contains a number of allowances which enable individuals to enjoy income and gains tax free. In seeking to maximise your tax-free income, it makes sense to take advantage of available allowances. The following are a selection of some of the allowances on offer. Personal allowance Individuals are entitled to a personal allowance … Read more
Keeping complete and accurate business records is vital to ensure that you pay the correct amount of tax and file correct tax returns with HMRC. This applies regardless of whether you are running a business as a sole trader or in partnership or operating a limited company. Business records for the self-employed The self-employed need … Read more
In an ideal world, all businesses would be paid on time, or even early, for their products and services. And while there are some people out there who are diligent in their payment efforts, sadly there are a lot more who aren’t. This results in late payments, which can cause a lot of problems for … Read more
As a business owner, there are a lot of things you need to focus on. And even when you’re settling down to just work on one area of the business, you will quickly discover that there are dozens of tasks, reports and other information you need to process and use. Finance and accounts are no … Read more
As a business owner, one of your ambitions is to run a profitable business right? We can say that with confidence, because it is the mark of a business that is not only covering its costs, but actually making money too – a staple of a successful business. It’s a goal most business owners share, … Read more
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