Survival Tips For Small Businesses – Our Top Tips For Small Businesses & SME’s
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On top of that HMRC makes a lot of mistakes. HMRC themselves in one year admitted that almost 5M people paid the wrong tax under PAYE. Tax evasion is taken very seriously by HMRC and criminal proceedings usually follow. The penalty regime in many cases is extremely...
If you run a small owner managed Limited Company it is not a good idea to mix your business and personal expenses and payments A company is a separate legal entity even if you own all the shares and is governed by company law. Director/owners of Limited Companies can...
The tax rules seek to PREVENT someone gaining a tax advantage by arranging to divert his/ her income to family or friends taxable at a lower or nil rate. For example where a husband and wife own equal shares in their own company but the husband is the only earner....
There is an important piece of legislation called ESC 16 which basically states that what’s left in a company on closure can be distributed to the shareholders as a capital distribution rather than as a revenue distribution as long as the amount does not exceed...
Anyone that provides their services through a Limited Company needs to consider the legislation known as IR35 which was brought in by the government to prevent people paying substantially less tax and national insurance by operating through an intermediary such as a...
If you run a small owner managed business it is not a good idea to mix your business and personal expenses. There is a very important principle and that is: A company is a separate legal entity in law even if you own all the shares This means that it is governed...