When going self-employed, there are so many benefits: setting your own hours, choosing the work you want to do, and earning as much as you can. Despite this, one of the tough responsibilities is to understand how paying tax will work, which can be tricky for new startup businesses.
Giving to charity attracts a series of generous tax breaks that you can take advantage of. These breaks can positively affect inheritance tax, income tax as well as capital gains.
In a limited company in the UK, it is the responsibility of the company directors to ensure that taxes are paid. Businesses will usually require the help of an accountant to ensure they abide by the law, but, to give you a better understanding of what needs to be paid and when, here’s a brief overview of how tax laws in the UK work for limited companies:
George & Rebecca co-founded and manage ILS, International Location Safety, a business set up to provide NGO staff with the skills necessary to work in hostile environments. Here’s why they choose Swindells…
Click here to watch our short new video and keep an eye out for more on the way…Swindells are a team of professional people with equal emphasis on each word. We provide the expertise and experience of a Big 4 firm with the understanding, friendly & personal service expected from your local practice.
Entrepreneurs are funny fish when it comes to finances. They often keep everything related to the finances of their business in their heads. When you’re an entrepreneur, this isn’t as tricky as it sounds, because you know your business inside out. It has some advantages.
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