30th September 2018 is the deadline to register any disguised remuneration schemes with HMRC. Disguised remuneration schemes claim to avoid the need to pay Income Tax and National Insurance Contributions. The use of an Employee Benefit Trust (EBT) is an example of a disguised remuneration scheme.
Limited company director’s responsibilities: What you need to file with HMRC & Companies House and when
What are your responsibilities as a limited company director? We explain what you need to file with Companies House and HMRC so you can keep on top of things.
If possible, you should always asked to be paid in your native currency, as an appropriate rate elsewhere can be a very low rate in the UK.
Failure to file a Confirmation Statement is a criminal offence, which can result in directors being fined personally in criminal courts.
On 18th May 2018 the government published a long-expected IR35 consultation about ‘off-payroll working’ in the private sector. We’ll be responding in detail and will publish our response before the consultation closing date of 10th August.
Many take the sole trader route when starting a business, but there are huge benefits associated with setting up a limited company.
One of the differences between being paid by an employer and running your own business is having to sort out your own pay. You can do this by taking a salary from your limited company - in the same way as a regular employee. Here are the benefits of taking a high or a low salary, without the jargon.
Contractors registered under the Construction Industry Scheme (CIS) are required to deduct tax from their payments to subcontractors. These deductions are paid by the contractor to HMRC as an advance towards the subcontractor’s tax liabilities.
Benefits in kind are benefits that employees or directors receive from their company which aren’t included in their salary or wages. They’re also sometimes called ‘perks’ or ‘fringe benefits’. Not all benefits in kind are treated in the same way by the tax system, so here's what you need to know.
A businesses would typically provide a customer with a credit note when the amount on an invoice is disputed or incorrect. This might be due to an admin error, or because the customer requires a full or partial refund. Here are a couple of scenarios of when you might want to issue a credit note to a client.