So you’re a tradesman and want to grow your business! It’s tough enough running your business, so why are things like business expenses so complicated? After reading this blog, you’ll know the easiest way to do things properly and understand why. As a self-employed tradesman, operating your business involves many running costs, also known as
Are you a landlord or property investor considering selling your home? When selling real estate, it is important to understand the complexities of capital gains tax and other aspects of property accounting to ensure you are minimising how much tax you need to pay and making the most tax-efficient savings. There are several tax considerations
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
As a limited company director, securing a comfortable retirement is no doubt a priority. But, as accountants, we see many directors who are not making pension contributions through their company and therefore missing out on a valuable tax-saving opportunity. Company directors can benefit from extracting money from their business through pension contributions of a value
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
When it comes to remuneration, 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 tax rates taking a salary keeps NIC up-to-date there is no NI
Buying a company car means buying the car through your limited company rather than buying it personally If you’re buying a vehicle, whether it’s a car, van or even motorcycle, and thinking about whether to buy it through your limited company or not, read on. We will give you all our knowledge on this topic,
Deciding whether to transfer your properties into a limited company is not a simple answer, it depends on your situation. First of all, if you or your spouse are not higher rate taxpayers then there’s potentially no tax benefit to owning your property in a limited company unless it is part of your Inheritance Tax
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.
