Income tax, VAT, business rates, or national insurance taxes are an unavoidable part of life for everyone and need to be taken into consideration. However, it’s only when you manage your own business that you realise just how complicated things can get. Assuming all goes well, you’ll also need to consider corporation tax. Being aware …
How to calculate corporation tax for small business Read More »
This guide covers everything you need to know about the mechanics of corporation tax, who pays it, how it is calculated, what the deadlines are, how to pay it and how to reduce your corporation tax bill. If you have any questions then get in touch with us, we’d love to help you maximise your tax reliefs and reduce your corporation tax bill.
With significant tax changes already announced in the March Budget, and further rises introduced by the Health & Social care levy we were hoping for a fairly quiet budget here at Raw. Despite speaking for over an hour, the Chancellor did not announce any fundamental changes to the corporate, personal or indirect taxes in this …
Running your own business? Here’s 6 simple tax mistakes to avoid. Whilst simple, these ideas could significantly help to reduce your tax bill. Not convinced your tax affairs are being actively managed? Then get in touch, we’ll be happy to have a chat.
More tax rises are on the way with National Insurance rates set to rise by 1.25% from April next year, and Dividend tax rates also subject to the same increase. That’s a hammer blow to owner managed businesses who were told only a few months ago in the Budget that from 2023 corporation tax rates will be increasing for those with profits above £50k.
Directors of Limited companies have a couple of options when it comes to contributing to their personal pension scheme. In this article we explore how they can maximise the benefits of their contributions and pay less tax.
We regularly get asked by our clients how they can reward their employees tax free. There are a number of benefits which are covered by specific, statutory exemptions meaning they’re tax free or very tax efficient! Benefits to consider include: Pensions – beyond auto enrolment, pensions are a key benefit for employees and can usually …
A question we get asked regularly by Limited company Directors is whether they can put their mobile phone expenses through their limited company tax free. Like most things, it depends! In this article we explore when a Director’s mobile phone can be tax free.
The past 12 months has led business owners and company directors to review their commercial office needs. If you’re a company Director thinking of chucking in or scaling back your commercial office in favour of use of a home office, then this guides for you! Not only can you now mow your lawn on your lunchbreak, but you might be able to pay less tax in the process. And to those who have always worked from home we’d recommend you take a look – you may be paying the taxman more than you need to!
This post covers everything you need to know about Limited company Directors salary for 2021/22. We cover the basics, including how a Director of a limited company gets paid, along with the question that everyone wants to know – is it better to pay yourself a salary (spoiler it is!) and, what the most tax efficient salary to pay is. So, let’s dive straight in.
For company owners, there has arguably never been a better time to purchase an electric car. The current electric car tax regime makes electric car ownership a compelling proposition. But even more crucially electric car ownership is increasingly feasible thanks to new vehicles like the new Renault Zoe, and Vauxhall Corsa electric which both clock over 230 miles on a single charge. So, lets see why 2021 is probably the year to go electric.
Director’s loan accounts are one of the most common topics we get asked about from clients and prospective clients alike. It’s one of those slightly tricky accounting topics which every Limited company Director really does need to get their head around. Thankfully, we’ve prepared this essential walk through with everything you need to know about Director’s loan accounts. So, let’s dive right in and find out exactly what a Director’s loan account is.