There are a variety of reasons why businesses or consultants may choose to operate via a limited company.
For some, the protection limited liability offers if things go wrong is an attraction, for others, the potential tax benefits are the main reason why they choose to be a limited company over a sole trader.
To explain more about the tax advantages of a limited company, we asked Manchester based accountants Alexander & Co to outline the tax-effective ways you can pay yourself if you own a limited company. (more…)
To clarify the various tax rates, thresholds and allowances that self employed workers, business owners and company directors need to be aware of for tax calculations, here is ByteStart’s summary of the main tax rates, tax bands, and tax allowances for the tax year from 6 April 2016 to 5 April 2017.
These are the rates and thresholds that you will need to use for completing self assessment tax returns for 2016/17.
The deadline for filing a paper tax return for the 2016/17 tax year is 30 October 2017. If you are completing your self assessment online, you have until 31 January to submit your return.
At 1.30pm on Wednesday 16 March, 2016, George Osborne delivered his eighth Budget as Chancellor of the Exchequer.
The overall headlines include the introduction of a sugar tax on soft drinks from 2017, extra funding for schools to have longer days and a downward revision of growth forecasts for the UK, but what did Budget 2016 bring for small businesses?
Here are the main points that affect business owners, both self-employed and limited company directors; (more…)
With the plethora of tax rates, thresholds and allowances changing every year, here is ByteStart’s summary of the main tax rates, tax bands, and allowances for the 2014/2015 tax year. We focus on the figures that are of relevance to business owners.
Many tax rates and allowances changed on 6th April 2013, as the new personal tax year began. This year, the RTI (Real Time Information) payroll rules also came into effect.
Following the 2013 Budget, here is our summary of the main tax rates, tax bands, and allowances for the 2013/2014 tax year, with particular reference to data which will affect the typical small business owner.
If you are looking for figures for the 2014/15 tax year, you will find them in ByteStart’s guide to the tax rates, allowances and thresholds of relevance to small business owners for the 2014/15 tax year.
Following changes announced in Budget 2012, here are the main tax changes, rates and allowances for the 2012/13 tax year.
Here are the 2011/12 tables for income tax, taxable bands, personal allowances, and dividend tax rates:
This is the Corporation Tax rate table for the 2011/12 tax year (starting 1st April).