What Is VAT and How Does It Work?
‘Value Added Tax’, better known as VAT, is a form of tax charged on the sale of most (but not all) goods and services. Understanding what VAT is and how
Guide to Director’s Loans: Definition and Tax Rules
A ‘director’s loan’ refers to the money a director takes from the company that does not count as salary, dividends, reimbursed expenses, or a repayment of funds they have personally
Annual Accounts for a UK Limited Company Explained
Annual accounts are the statutory financial statements that every UK limited company must prepare and submit at the end of each financial year. They record your company’s financial performance and
What Are Dividends?
Dividends are payments that a company makes to its shareholders from its profits. When a limited company earns more than it spends, the surplus belongs to the company. The directors
Company Director Pension Contributions – A Simple Guide
As specialists in UK company formation, we frequently see that retirement planning falls well down the priority list for limited company directors. You may be surprised to know that company
Can HMRC Access Your Business Bank Account?
If you are wondering if HMRC can access your business bank account, and if so, under what circumstances, this article is for you. This is a question every company director
Trivial Benefits Explained for Limited Company Directors
The term ‘trivial benefits’ is used by HMRC to describe certain small rewards received by employees and company directors that are exempt from tax and national insurance. If you give
What is a P60 Form and How to Use It?
In the UK, the P60 Form is a document that is issued by employers to their employees each year. It contains important information relating to the pay and deductions (e.g.
How to Get an EORI Number in the UK: A Concise Guide
If you have a business or you are a sole trader in the UK that trades with another country, you may need an Economic Operators Registration and Identification number (EORI
How to Find a Company’s VAT Number by Name in the UK
There are a number of ways of finding and checking a company’s Value Added Tax (VAT) number by name in the UK, including checking the company’s website and using the