<h1 class="entry-title">Category: Business Guides</h1>
11 Feb
Vehicle Lease

What is the most tax efficient way to lease a car? via your limited company or personally?

Leasing through a Limited Company The Good… Reclaim VAT on lease payments – handy if you are VAT registered and extra handy if there’s no private use of the vehicle so you can reclaim 100% of the VAT. If private use does occur, you can only reclaim 50% of the VAT Lease payments are tax deductible […]

20 Oct


In the 2019/20 and 2020/21 tax years, UK Companies must pay Corporation Tax on taxable profits at a rate of 19%. This means that a company with £50,000 of taxable profits will pay £9,500 in Corporation Tax.  The UK tax system is known to be quite complex, so finding ways to legitimately reduce your Corporation […]

04 Mar

P60 & P45 and Updated Starter Checklist

HMRC has announced that it intends to withdraw blank P60 & P45 forms from tax year 2020-21 onwards. This is part of its digitisation of communications project and should be applauded for being environmentally friendly. Requests for P60 forms can be made until June 2020 whereas P45 forms will be withdrawn indefinitely in April 2020. […]

04 Dec

Company Stationery

Limited companies, must include specific information such as the company’s name on all company stationery, documents, publicity and letters. Companies House regulations say that the company’s letters must have the following contents: The company’s registered name This is the name as it appears on the certificate of incorporation and includes the word “Ltd” or “Limited”. […]

15 Nov

Tax Efficient Company Profit Extraction Methods

Tax planning plays a key role when extracting profits from a company, therefore, careful thought should be given to a strategy which is tax efficient. Salaries This is the simplest and obvious way of extracting money from the company. By taking a salary between the lower earnings limit (£6,136) and the primary threshold limit (£8,632) […]

09 Oct

Director’s Loan Accounts

Director’s Loan Accounts Transactions between a director and a personal/family company are recorded through the director’s account for accounting purposes. If the director(s) owes the company any money, there will be tax consequences which need to be considered. A tax charge will arise under s455, CTA 2009 where a director’s loan account is over drawn […]