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Am I eligible for the Employment Allowance and Small Employers’ Relief?

The Employment Allowance and Small Employers’ Relief are examples of two schemes which were introduced to encourage small businesses to recruit staff, and to support them when employees are unavoidably out of the business, such as on maternity, paternity, adoption, or shared parental leave. The Employment Allowance What is the...

Should I Set Up a Limited Company?

When starting a new business, one of the most important considerations is the structure and legal status your company will adopt, and specifically whether you should set up a limited company or operate as a sole trader or partnership. The decision you make will significantly affect every aspect of your...

Should I Register for VAT?

If your turnover has exceeded the VAT registration threshold of £85,000 in the last 12 months, your business must register for VAT with HMRC. This applies to all commercial businesses, including sole traders, partnerships, and limited companies. However, before reaching the mandatory VAT threshold, you may wish to consider the...

Salary vs Dividends – what is the most tax-efficient way for company directors to take income?

For many small business owners or directors, the first few years of trading are characterised by hard work and long hours, and so it is quite understandable that, in return, you would want to be remunerated in the most tax-efficient way possible. There are three main ways in which a...

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