How does National Insurance work for a company director?
As a company director, your earnings are subject to National Insurance (NI) in the same way as all employees’ earnings are. It is treated differently in the way it’s calculated. If you’re a limited company director, you’ll pay both employers and employees...
What is the process to pay a dividend
You want to pay a dividend because you’ve heard it’s the most tax-efficient way of taking an income from the business. But the process isn’t as simple as just drawing out cash. With dividends, its important you follow the right steps. HMRC are hot on compliance checks...
Will the new IR35 changes affect me?
New IR35 tax changes will come into force in the private sector in April 2021. As a result some self-employed workers, and the businesses that hire them, will have to pay tax differently. Are you one of the 170,000 ‘contractors’ who may have to pay more tax? Are...
Payments on Account
It’s the end of January. January generally isn’t the best of months in “normal” times. In the middle of yet another lockdown with all the worry and stress that goes with that, even if you don’t know anyone who has got COVID, this January...
The three main filing requirements for limited companies
There are lots of benefits of owning a limited company over being a sole trader, from potential tax savings to protection of your personal assets. In order to take advantage of these benefits, there are certain statutory duties you must adhere to every year. It’s...Follow Starfish Accounting
