Three ways to reduce your personal tax liability as a business owner
With tax rates at a post-war high, a leading accountant shares three different ways to help business owners reduce their personal tax liabilities.
How are small businesses taxed in the UK? We explore the various taxes you will encounter as a business owner – either as a sole trader or a limited company.
With tax rates at a post-war high, a leading accountant shares three different ways to help business owners reduce their personal tax liabilities.
Whether you’re a sole trader or company director, you may have come across the term “SA302” at some point. Your SA302 is an HMRC document that you may need to produce to prove your income for a given tax year.
If you are a limited company shareholder, you may have to pay tax on any dividend income you receive. Here we explain how company dividends are taxed and how to calculate the amount of tax due on dividend income.
Read More »Limited company dividend tax guide – 2023/4 tax year
If you are a limited company director, you will typically pay yourself a salary, and – as a shareholder – draw down profits in the form of dividends. So, what is the optimal salary/dividend split in 2023/4?
If you’re a company owner, this useful calculator will work out your net profits, after allowing for expenses and tax.
Here we look at the UK tax rules for the self employed so you can nail your tax return like a pro. We cover income tax and national insurance contributions for 2023/4.
National Insurance is a deduction from earnings, set up originally to fund various State benefits such as the NHS, the State pension and other welfare-related schemes.
Read More »Guide to National Insurance for small business owners
We look at the taxes you will encounter if you start your own business as a sole trader and other things you should bear in mind before taking the plunge and becoming self employed.
If you are setting up a limited company for the first time, here is an overview of how corporation tax works, including details on the 2023 tax hike.
The main Corporation Tax rate is increasing from April 2023. We look at how the new tax regime will work, and how much it will cost small business owners.