Posts Tagged: national insurance

Should I buy a car through my business?

Are you thinking about getting a new car? Maybe the old one has given up the ghost and it’s time for an upgrade? If a new set of wheels is on the cards there lots of options to consider, buy outright, buy on finance, new or second-hand. Another factor in the equation is your business…. Read more »

Can I claim mobile phone expenses from my business?

In the good old days of the landline, sorting out phone expenses was simple, business landline at the office for business, home landline for personal. In the modern days of the smartphone, things are much less clear cut. Few people want to carry around two mobiles, one for business and one for personal, it’s much… Read more »

What’s my director’s salary for 2017-18?

What’s your magic number? Last year it was £671 or £916, but what are the magic numbers going to be this year? If you have a limited company you might recognise your director’s salary figure from last year. Now that Spring is in the air and the daffodils are blooming, it must be time for the… Read more »

New trivial benefits in kind exemption is not so trivial

We have a limited company client who are basically a lovely employer. They often give their employees little treats and perks and generally make the company a great place to work. Then we come along with our accountant’s head on and start quizzing them about the minute details of each expense to try and determine… Read more »

What happened? Why is my personal tax bill so big?

Did January end with a shock for you? Was your personal tax bill a lot bigger than you expected? Maybe the scenario below sounds familiar? Mark is in his full year of self employment and everything is going well. He did a tax return last year but there was only a few months self employment included so no… Read more »

Self employed or just a hobby?

Unfortunately it is very easy to be self employed without realising it. You might not consider yourself to be running a business empire, but as long as you are undertaking work or trading with the intention of earning money there is a good chance that HMRC will consider you to be self employed. But I’m… Read more »

How do I take the profit from my business?

Your business is in profit, fantastic. Now you want to be able to use some of the money. How do you take profits out of your company so that HMRC stays happy? 1. Profit from Self Employment (or Partnership). This is actually quite straightforward, for an accounting concept! If you are self employed then you… Read more »