The most common way to pay yourself as a director of a limited company is using a mixture of salary and dividends. Keeping your salary low minimises the amount of National Insurance you have to pay, as dividends does not attract National Insurance. Therefore, most directors take a small salary and the remainder of Read more about New dividends tax – what does it mean as a director of a limited company?[…]
What is a dividend? A dividend is a payment a limited company can make to shareholders when it has made and retained a sufficient profit. For this year 2016/17, the government has chanced how dividend is taxed, you will no longer receive a nominal tax credit, but you will be able to take Read more about Dividends – What is it and how do I pay it (After 6 April 2016)?[…]
As previously mentioned companies house is moving to Gov.co.uk, well they have and have launched a new online search facility called BETA service available via http://beta.companieshouse.gov.uk So what is available? It currently allows searches of: Company overviews Document images Company officers Disqualified directors Changes to a company registered office address. What else can we expect? Read more about New Companies House online search tool[…]
Marriage Allowance lets you transfer £1,100 of your Personal Allowance to your husband, wife or civil partner. This can reduce their tax by up to £220 every tax year (6 April to 5 April the next year). To benefit as a couple, you need to earn less than your partner and have an income of Read more about Marriage Allowance[…]
Most people have a Personal Allowance – an annual amount of tax-free income. The rates of Income Tax you pay depend on how much taxable income you have above your allowance. Personal Allowance for 2016/17 = £11,000 Income Tax Bands Band Taxable income Tax rate Personal Allowance Up to £11,000 0% Basic rate £11,000 to Read more about Personal allowances, rates and bands 2016-2017[…]
Such a simply question, you would think, however it produces a complicated answer. For this calculation, we have assumed the following: The director wants to preserves their entitlement to state benefits, and The director wants a salary which saves the most tax and national insurance. First of all let us look at preserving your entitlement Read more about As a director, what should I pay myself in 2016/17?[…]
The new version of the Company Tax Return form (form CT600 version 3) must be used for accounting periods that start on or after 1 April 2015. In addition, a new computation taxonomy has been introduced for computations that accompany the new CT600 form. The old version of the CT600 form (version 2) and computation Read more about HMRC has introduced a new version of the Company Tax Return form and its supplementary pages.[…]
Department for Education survey data shows that nearly a quarter of employed mothers would increase their working hours if they could arrange good quality childcare which was convenient, reliable and affordable. The scheme will be available to children under the age of 5 from autumn 2015, and all working parents with children under 12 will Read more about Introducing a tax-free childcare scheme[…]
Most people have a Personal Allowance – an annual amount of tax-free income. The rates of Income Tax you pay depend on how much taxable income you have above your allowance. Personal Allowances: AGE AMOUNT Up to and including 64 £10,600 65 to 74 £10,500 75 and over £10,660 For every £2 your income is Read more about Personal allowances, rates and bands 2015-2016[…]
HMRC has been trialing a new service called Your Tax Account since May 2014 and is set to formally replace the Business Tax Dashboard during 2015. Your Tax Account is essentially a personalised homepage which gives you quicker and simpler access to everything you need to manage your tax affairs including links to key transactions Read more about Business Tax Dashboard to be replaced[…]