As professional accountants, some of the questions we’re most frequently asked by limited company owners are about tax relief. It’s often a delicate balancing act between the benefits for the company and the individual. What may surprise you is that there is one particular legal ‘loophole’ that is beneficial to both. As a director, you
As a hard-working business owner, you’ll be the first to know that running a limited company comes with its fair share of responsibilities, and paying taxes is a big one. The great news is that there are several things you can do to reduce your tax bill and save money. Some of our top suggestions
Running a business isn’t always easy work, especially when balancing the day-to-day business tasks with managing finances. You may find from time to time that you need to lend money to your company or even borrow money from your company – this is what is known as a director’s loan. A director’s loan is one
As humans, we often become attached to what works for us, and, as a result, we can be reluctant to embrace change. However, according to HMRC, the days of receipt hoarding and Excel sheets should be behind us, with efforts to start ‘Making Tax Digital’. Making Tax Digital is a Government scheme encouraging businesses to
As a property investor, you can make significant tax savings on your investment properties by claiming them as allowable expenses on your tax return. Allowable expenses for landlords can vary for different types of investments, but ultimately, working with an experienced tax specialist can reduce your tax bill and increase your rental property income. What
In addition to building a trusted workforce and retaining your most valuable employees, providing an employee benefits package can result in significant tax savings for your limited company. Employee benefits are additional perks employees receive outside of their salary. When structured correctly, these benefits, such as private healthcare, company cars and childcare vouchers, can be
As professional accountants, some of the questions we’re most frequently asked by limited company owners are about tax relief. It’s often a delicate balancing act between the benefits for the company and the individual. What may surprise you is that there is one particular legal ‘loophole’ that is beneficial to both. As a director, you
Lending to your own company is a good way to grow your business and can come with tax benefits. Like most financial transactions, there are tax implications. Lending/borrowing money from limited companies has risks and benefits: Risks: Non-repayment Associated tax risks Possible strain on company cash flow Benefits: Access to additional capital Flexibility Tax advantages
Did you know that as a director, you have the flexibility to pay yourself in various ways? Company directors can choose to pay themselves with a salary, dividends or a combination of both. It can be beneficial for directors to take a combination of salary and dividends as: dividend tax rates are lower than income
Just because you might have accountants in Nottingham doesn’t mean you have to stay with them. If they aren’t doing enough for you, helping you to save money on tax and other bills and developing your business, you should think about changing.
It’s easier than you think. It only takes a few minutes, and it could dramatically alter your business for the better.
If you want to go ahead and change accountants to Archimedia Accounts, we will have a few letters sent to you in the post, which you simply pass on to us. And we will liaise with your previous accountants to get any additional details and information we might need. That’s all it takes to get progressive, proactive accounting from a company that cares about your business and will help you to succeed even more.
