If you’re a director-owner of your own limited company though, you can pay yourself a regular salary with relative ease. The real question is how to do it in the most tax efficient manner.
At the risk of repeating ourselves, cashflow is king for every small business.
You can have the best business idea in the world, but without sufficient incomings to meet your expenditure, you’ll never have the money available to make your business grow.
Who remembers the banking crisis back in 2008? It seems an age ago, but we are still feeling the effects of it today. However, there is a positive to come out of it…
Most business owners already know the threshold for compulsory VAT registration is a taxable annual turnover of £85,000 - but there is often confusion over exactly what counts towards this figure, and how and when a business should register.
The ‘off-payroll’ working rules have been proposed to be extended to the private sector from April 2020, according to the draft Finance Bill issued earlier this year in July.
If you own property there are a number of further tax changes which are being made from 6 April 2020 which you need to be aware of.