In the past the government have seemed keen to encourage small businesses to incorporate as companies and consequently tax incentives have been offered to limited companies. Companies are subject to Corporation tax but their Directors are still required to complete Self Assessment returns and are also likely to be operating a PAYE scheme.
Failure to file all the relevant returns on time may result in costly financial penalties.
Many owners of small companies need advice on the most efficient balance between salary and dividends when extracting profits from the company.
I can provide a taxation and accountancy service to relieve you of the administrative burden and minimise your tax bill, contact me today to see how I can help.
HMRC's legislation known as IR35 is a burden on many Personal Service Companies. I can assist either with implementing IR35 or with taking steps in an attempt to “IR35-proof” your company. This is an issue which is important to many of my clients in the oil industry, where it is common for end-users to insist that contractors incorporate and bill through an intermediary.