Securing Entitlement to a State Pension ‘Credit’ without actually paying any NIC. Entrepreneurs that trade through a limited company can set how and how much they are remunerated. It is possible to avoid paying any NIC, yet still obtain a ‘credit’ for that particular tax year for future state pension purposes, by paying a salary of between…
Businesses and individuals with spare cash balances can maximise the interest earned on these sums by instructing their bankers to perform automatic overnight sweeping transfers between their current and deposit accounts. High street banks have traditionally offered low or even nil rates of interest on current accounts. It has therefore always been a fundamental cash…
Running a year end on Sage50 is something which you will probably not do often enough to remember the order of events. Let us help you: Post all transactions for the year onto Sage (it does not matter if you also post next year transactions). Reconcile all bank and cash accounts up to the year…
Under UK company law, all limited companies and limited liability partnerships must make the following business stationery disclosures: Full company/LLP name, Place of registration, Companies House registration number, Registered office address, You may also decide, for commercial reasons, to make extra business stationery disclosures, which may include: Any trade names the business operates under, The…
Once you have decided which car (or other vehicle type) to acquire and whether to own the vehicle within the company or personally, the next consideration relates to how to finance this transaction. The main factors of relevance should be taxation (corporation tax and VAT), cashflow, control and the accounting affect. Within business, conventional wisdom…
The length of time that business and tax related records should be kept depends upon which legislation they relate to. A brief simplified summary follows: Records Time Limits Company Statutory Registers Indefinitely Board Meeting Minutes/Resolutions Indefinitely General Meeting Minutes/Resolutions Indefinitely Details of Past Shareholders 20 Years Sealed Contracts 12 Years Corporation Tax Records 6…