Tax basics for self employed people matter because, when you work for yourself, the responsibility for registering, keeping records, filing tax returns and paying tax sits with you. Whether you are freelancing, side hustling or running a sole trader business,...
Dividends are a popular way for company owners to take profits from their business, but they need to follow the proper rules.If you’re a director and shareholder of a limited company, dividends might already be part of how you pay yourself. However, you need to...
Dividends and the Director’s Loan Account are essential topics for any business owner who operates through a limited company. Firstly, dividends represent payments made to shareholders from a company's post-tax profits. Unlike wages, dividends do not...
VAT reverse charging in the UK shifts the responsibility for accounting for VAT from the seller to the buyer. Instead of the supplier charging VAT and paying it to HMRC, the buyer records the VAT in their own accounts and VAT return where the reverse charge applies....
Tax treatment for sole traders matters because, when you run your business as an individual, you are taxed on the profits your business makes. You also remain personally responsible for reporting income, keeping records, filing your Self Assessment tax return and...
When you embark on the journey of entrepreneurship, one of the most pivotal decisions you will face is the choice of business structure. Registering as a sole trader vs limited company - this is where you’ll need to weigh your options and choose. Naturally, it will...
About this episode Choosing between sole trader or limited company is one of the biggest decisions we make as business owners. It affects tax, records, admin, personal risk, business costs, growth plans, and how customers or suppliers may view the business. In this...
In this episode, we explore Bad Business Habits that can slowly but surely undermine growth and profitability. Surprisingly, many business owners develop unproductive habits without fully realising their long-term effects. Accordingly, addressing these...
Shareholders and directors each have unique roles and responsibilities within a company, yet people often confuse the two. As we discuss this in the episode, we aim to clarify these distinctions for UK companies. However, these principles apply...
Being a limited company director means making smart decisions for your business - but doing it in a way that benefits the company as a whole. It’s important to understand your responsibilities in order to avoid any legal or financial pitfalls in the future. As a...