Accounting and Company Tax – Companion Accountancy

The ins and outs of management accounts for small businesses

Leave a Comment / Accounting and Company Tax, Contractors, Uncategorised

Financial management is one key area that can make or break your success as a small business owner (see also our blog on cashflow forecasting). While most business owners focus on yearly financial statements for tax purposes, management accounts provide insights into your day-to-day and month-to-month performance. To make management accounts work for you, you’ll […]

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Limited company directors: Do you know how much personal tax you incurred for 2024/25?

Leave a Comment / Accounting and Company Tax, Limited Company Directors, Tax Planning, Uncategorised

As a limited company director, you’ll need to keep on top of your bookkeeping and personal tax obligations for legal compliance and your own financial health. We are now into the fifth month of the financial year, which runs from April 6, 2024 to April 5, 2025. Do you know where you stand in terms

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How to Keep on Top of Your Bookkeeping

Accounting and Company Tax, Small Business

A P11D is the form used to report benefits in kind paid to directors and employees which have not been subject to PAYE tax. In this article we’ll look in detail at what you need to know.

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Limited Company Directors: What you need to know about your P11D

Accounting and Company Tax, Small Business

A P11D is the form used to report benefits in kind paid to directors and employees which have not been subject to PAYE tax. In this article we’ll look in detail at what you need to know.

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Is Your Payment on Account Due by 31st July?

Accounting and Company Tax, Tax Planning, Uncategorised

Each year when your personal tax return is prepared, if your tax liability is more than £1,000 and more than 80% of your income isn’t taxed at source then payments on account will be due.

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Do I need to register for VAT and if so on which scheme?

Accounting and Company Tax, Small Business, Tax Planning

VAT is one of those taxes that every business owner and contractor needs to know about even if you’re not VAT registered yet, it’s important to understand how the rules affect your business and what your options are if and when the question of registration comes up.

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The Top Ten Items Your Limited Company Can Reclaim VAT on

Accounting and Company Tax, Tax Planning

The Top Ten Items Your Limited Company Can Reclaim VAT on The question of when VAT is recoverable and when it isn’t is very common, so in this article we’re looking at the ten most common items contractors can reclaim the VAT on through a Limited company. It’s important to note that this only applies

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How Much can You Take in Dividends

Accounting and Company Tax, Tax Planning

How Much can You Take in Dividends? As a director and shareholder, you may be used to taking part of your income from your Limited company as dividends. It’s important that this is done correctly, so in this article we’ll look at the difference between legal and illegal dividends. What are dividends? In simple terms,

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Directors Loans – How Do They Affect Your P11D?

Accounting and Company Tax, Tax Planning

The deadline for filing a P11D is the 6th of July, and if you have a director’s loan it will need to be declared. In this article we’ll look at how a director’s loan can affect your P11D, and what action you need to take as a Limited company director. What is a director’s loan?

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