Paying a dividend from a private company
If your private limited company has had a successful year in terms of profits, you may want to pay a dividend to shareholders. This is a standard way of rewarding them, or else paying yourself if you are the sole shareholder of the company. Paying a dividend from a private company is not something that […]
How Much Corporation Tax Should I Pay?
Corporation tax applied to trading profits and sold assets, and the time periods in which applicable companies must pay their bill are stringently enforced. Knowing how to calculate corporation tax is an essential element in an accountant’s toolkit, but business owners and company directors can also benefit from knowledge of how corporation tax works. If […]
Filing Your Company Tax Returns
Company tax returns are one of the numerous formal obligations you face as a business. As well as keeping track of profits and weighing up expenses, and before you can know how much corporation tax you need to pay – if any – you must also file your company accounts and tax returns. Filing your […]
Can a Small Business Get a Tax Refund?
Working out taxes as a small business can be a tricky task. Knowing what you are – and are not – liable to pay against eligible relief and allowances can mean calculations are often not the most straightforward. Your small business may be eligible for a tax refund to help ease the amount due to […]
What Taxes do Small Businesses Pay?
Taxes are an inevitable expense of any small business, but not all tax bills are equal. The amount of small business tax to be paid differs, for instance, between a sole trader and a limited company. Let’s take a look at the taxes that a small business can expect to encounter and which ones you […]
How long should an accountant keep client records?
Keeping records is incredibly important for a business. They prove that you’ve met relevant obligations, and that the claims you make in regard to financial goings-in and out are substantiated. Accountants need to hold on to records after they’ve been sent to HMRC and Companies House for the purpose of annual accounts. But for how […]
Is it a legal requirement to have an accountant?
Having an accountant on side for your business can do so much for your financial health and organisation. However, despite the strengths of a chartered accountant, it isn’t a legal requirement to employ their services. What about your statutory obligations to HMRC and Companies House? Do you need an accountant to file accounts or to […]
What qualities should an accountant have?
When thinking of the qualities an accountant needs to have, one obvious requirement comes immediately to mind: good with numbers! Of course, this isn’t the only strength of a good accountant these days, and what an accountant should know for your SME comes down to much more than mathematics. Let’s take a closer look. What […]
What role does an accountant play in my business?
Accountants are the people who know how to guide you through the complicated realm of taxes, VAT returns, and other statutory obligations your business has to meet. Having an accountant on your team isn’t a legal requirement, but they’re doubtless a strength that many businesses couldn’t do without. So, what do they actually do? What […]
Do you need an accountant to file your tax return?
Nobody looks forward to paying taxes, but it is an inevitable part of business for any company. Tax returns must be filed with HMRC every year, and is a routine affair for those familiar with it, but for the uninitiated it can quickly get complex. The internet is rife with questions about the world of […]