Business Asset Disposal Relief is a form of tax relief that allows a company director to sell all or part of their business and pay just 10% in Capital Gains Tax on the profits they have made up to a limit of £1 million. Continue reading to find out more about Business Asset Disposal Relief and whether you could benefit from it.
Currently, only VAT-registered businesses with an annual turnover of more than £85,000 must maintain digital records and submit VAT returns via Making Tax Digital (MTD) compatible software. As of April 2024, this will extend to landlords and self-employed professionals. Keep reading and we’ll explain the changes and what they mean for landlords and the self-employed.
As a director of a limited company, you have the option to decide how and when you extract funds from your company. There are a few different options available, and the route you choose will entirely depend upon your income and circumstances. However, most directors draw money out of their company in salary, dividends or a mixture of the two. We’ve put together a short article to help you discover which option may be beneficial for you.
The Conduct of Employment Agencies and Employment Business Regulations 2003, or more commonly referred to as the Conduct Regulations, were introduced to provide a minimum set of standards that must be adhered to when placing a work-seeker into a role in the UK.
Umbrella companies offer a compliant payroll service (PAYE) for contractors. They are very flexible and can be used at any stage of your contracting career – and for any length of assignment. Continue reading to discover the five key benefits of working via an umbrella company.
With changes to off-payroll in the private sector legislation going live in April 2021, you may be considering the closing down of your limited company. Continue reading to discover the points you should consider when deciding whether closing down your limited company is the best option for your circumstances.
The 2021/22 tax year began on the 6th of April 2021, and there are a few personal and business tax changes you should be aware of. Our short guide will provide you with an overview of some of the changes you can expect to see this tax year.
Effective from the 1st March 2021, you must use the domestic VAT reverse charge for most supplies of building and construction services. Continue reading to discover everything you need to know about the VAT domestic reverse charge.
If you’re inside IR35, you may explore the option of using an umbrella company for your payroll. Registering with an umbrella company is straightforward, and you can be set up and ready to get paid in under 15 minutes. Continue reading to discover the five simple steps to take to register with an umbrella company.
Chancellor Rishi Sunak has unveiled a three-part plan for the economy, including protecting jobs and businesses, rebuilding the economy and recouping public finances. Continue reading to discover the Chancellor’s key announcements delivered in the 2021 Budget.