With the shift towards greener fuels we often get asked ‘Are Electric Cars a Company Expense?’ As a business owner you may be considering transitioning to electric vehicles due to environmental concerns and potential cost savings. However, the tax treatment of electric cars can be complex. Are Electric Cars a Company Expense? Electric cars can […]
Category Archives: Tips
09
Sep
Sep
When, like many of our clients, your business expands you may start thinking about taking on staff. It’s usually at this point we get asked “How do I register as an employer?” Registering as an employer is an important step for any business that plans to hire staff. It not only ensures compliance with HM […]
26
Aug
Aug
As a director of a limited company, you may wonder how best to access funds for personal use. It’s a common query among business owners who want to balance their company’s financial health with their personal needs. Fortunately, there are several methods available for extracting funds from your limited company, each with its own implications […]
19
Aug
Aug
Choosing a name for your limited company is a crucial step in establishing your business identity. Your company name plays a significant role in shaping your brand and how customers perceive you. It’s essential to select a name that reflects your company’s values, vision, and the products or services you offer. Choosing a Name for […]
29
Jul
Jul
Partnership accounts are not a legal requirement but are still crucial for businesses run by more than 1 person. In this post, we’ll look at the basics of partnership accounting. Partnership Accounts Essentially, partnership accounts involve recording financial transactions and preparing financial statements for businesses owned by two or more partners. These transactions include: revenue, […]
22
Jul
Jul
Furnished Holiday Lets (FHLs) in the UK have become more and more popular recently. For property owners and investors, understanding the tax situation when it comes to FHLs can lead to tax savings and a more profitable venture. What Are Furnished Holiday Lets? Furnished Holiday Lets, as the name suggests, are residential properties that are […]
15
Jul
Jul
Running a partnership can be rewarding, offer flexibility and success. However, things can get a bit confusing, especially when it comes to partnership tax returns. The purpose of this blog post is to explain the process involved. What are Partnership Tax Returns? Unlike a limited company or Sole Trader, a partnership doesn’t pay tax. Instead, […]
08
Jul
Jul
One of the most important questions a partner in business asks me is ‘How Do I Pay Tax in a Partnership?’ In this post, we’ll look at the basics of paying tax in a partnership and what you need to know to stay compliant with HMRC regulations. How Do I Pay Tax in a Partnership? […]
01
Jul
Jul
Partnerships offer a flexible and popular business structure, but they come with specific reporting requirements that demand attention. In this guide, we’ll break down what you need to report as a partnership, simplifying complex tax jargon into easy-to-understand terms. What You Need to Report as a Partnership Partnership Tax Return The cornerstone of partnership taxation […]
24
Jun
Jun
Understanding allowable expenses for partnerships not only ensures compliance with HMRC but can also maximise profits. In this guide, we’ll explore the ins and outs of allowable expenses for partnerships in simple terms. Partnerships, as defined by HMRC, are formed when two or more individuals carry on a business together with a view to making […]
