Optimum Director Salary and Dividends 2020/21 – Limited Company Directors When you are working through your own limited company one of the key items on your tax planning should be ensuring that you are paying yourself the optimum level of salary and dividends. The advice in this article is geared towards limited company freelancers, contractors… Read More

IR35 Changes 2021 – April 2021 private sector IR35 update   IMPORTANT UPDATE 18 MARCH 2020: The government have now announced that the IR35 changes to the private sector that were due to come in April 2020 will now be put back one year and will come into effect from April 2021. The below article… Read More

How is corporation tax calculated? Corporation tax for small business explained! When you trade as a limited company, your company will pay corporation tax based on the level of profits it makes. In this guide we explain the basics of corporation tax including how it is calculated and when to pay your corporation tax. We… Read More

Making Tax Digital for VAT – MTD VAT Making Tax Digital for VAT (also known as MTD) is the first step in HMRC’s strategy to move the UK taxation system into a modern digital age. Initially there were plans for personal tax returns, as well as VAT returns, to be submitted under the new MTD… Read More

What are payments on account? We explain when you need to make payments on account to HMRC for your self assessment tax return Payments on account for personal tax returns (self assessment) can be one of the most confusing things to understand when it comes to your income tax bill. The personal tax year in… Read More