Differences of Sole Trader vs Limited Company 17/18 What are the key advantages and disadvantages of trading as a self employed sole trader vs a limited company for the 2017/18 tax year? Making the decision as to which structure your business operates as can be crucial, whether that be in terms of tax savings, perception to… Read More

Question, I run a small limited company recruitment agency employing 10 members of staff. I would like to provide a free daily office canteen lunch to our staff – what are the tax issues with this, will it be taxed as a benefit in kind? Answer: The good news is that it is possible to… Read More

Payments on Account for Limited Company Contractor Question, I am a limited company contractor and take salary and dividends to the higher tax band and have no other income. I believe with the dividend changes that came in for 16-17 I will have to make payments on account as part of my 16-17 personal tax… Read More

On Wednesday 8th March 2017 the chancellor of the exchequer Philip Hammond delivered what is set to be the last Spring budget – from now on the budget will be an annual event held in the Autumn. In this article, we cover the key changes from the budget that affect contractors, freelancers and small business… Read More

Making Tax Digital There has been much talk in the press recently of upcoming changes to the way businesses and individuals are going to need to report details of their tax affairs to HMRC, this is called ‘making tax digital’. Below is a brief guide of what we currently know about HMRC’s plans to implement… Read More