Posts Tagged: wages

Can I donate to charity through my business?

As business owners, myself included, we’re often focussed on growing sales and increasing profit, but sometimes it’s good to give as well as to receive. If you’re feeling inspired to give something back, can you donate to charity from your business? The short answer is yes – whether sole trader, partnership or limited company, you can… 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 »

Summer budget secrets and what they mean for you.

There was a lot of media coverage over the Chancellor’s summer budget with the usual discussion over average households, who will benefit and who will lose. Flying pretty much under the radar, almost unnoticed through all of this, were some budget changes that will have significant impact on small businesses in the UK. These budget… Read more »

Why is my director’s salary such a strange amount?

Have you ever wondered why your director’s salary such a strange amount? Why does it change each year and why isn’t it a nice round figure? Where do these odd figures come from? It’s all to do with one of the main advantages you have as a company director. One of the benefits of having a… Read more »

Are my earnings the same as my profit? How do I know how much money I’ve made?

How much has my business made this year? The big question for all business owners. It feels like it should be very simple – sales less expenses surely equals profit. Yet somehow when you get your accounts back there are so many different figures, drawings, dividends, directors account, profit, taxable profit and all different. Not only that,… 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 »