by Georgi Rollings | 6th May 2012 | Company Structure, Corporation tax, Directors, Limited company, Self assessment
Perhaps you set up a limited company to house your small business because somebody told you it was more tax effective? A lot of people running very small businesses do so through a limited company now, instead of as a sole trader. It means more admin, more expense,...
by Georgi Rollings | 26th February 2012 | Accounting, Being an employer, Limited company, PAYE
The form P11D is used to provide information on expenses payments and benefits to HM Revenue & Customs. This information has to be given to HMRC by law for each employee or director earning more than £8,500 (UPDATE: this threshold has been removed from 6 April...
by Georgi Rollings | 4th February 2012 | Self assessment, Sole trader, Start ups
The self assessment tax return deadline of 31 January has come and gone – as has the extra 2 days grace thanks to the public sector strikes. If you haven’t filed your tax return – or haven’t paid your taxes – what happens next? Did I...
by Georgi Rollings | 28th January 2012 | Self assessment, Sole trader
Income tax for the tax year ended 5 April 2014 is due by 31 January 2015. Hopefully you have already filed your self assessment tax return and know exactly what you owe. However some people will have an unpleasant surprise – in addition to owing tax for the...
by Georgi Rollings | 10th December 2011 | PAYE
Do you know what your tax code is? For most people, their tax code is a meaningless string of digits. It is, however, very important, as it determines how much tax is deducted from your salary. It isn’t unusual for a tax code to be incorrect – millions...