Welcome to our blog!

Keep up with our latest news.

End of Tax Year – for tax year starting on 6th April 2020

Posted by on 10.12.20 in Knowledge Base

Personal tax, thresholds and allowances The 2020/21 tax year commences on 6th April 2020.The Personal Allowance – the amount you can earn before paying any Income Tax –  remains at £12,500 for the 2020/21 tax year. The threshold for paying the Higher Rate of income tax (which is 40%) also remains at £50,000. This amount includes the Personal […]

Continue reading »

Directors’ Responsibilities

Posted by on 10.10.20 in Knowledge Base

Who can be a company director? There are no formal qualifications required to become a company director. A director must be at least 16 years old, must not be an undischarged bankrupt and cannot be disqualified from being a director by a court. What is a director of a limited company? There is a clear […]

Continue reading »

Travel expenses for limited company

Posted by on 10.9.20 in Knowledge Base

Travel expenses for limited company are generally allowed as a business expense where all of the following conditions apply: You’re responsible for paying the travel costs The travel you’re undertaking is necessary for your work, i.e. your attendance at the place you’re travelling to is mandatory The travel shouldn’t be ‘ordinary commuting’. HMRC defines a commute as […]

Continue reading »

P11D Form Explained

Posted by on 10.8.20 in Knowledge Base

In this article we take a closer look at the P11D form, including what you need to include on it, when you need to file it, and – most important of all – what will happen if you don’t fulfill your P11D duties.All this is explained below. What is a P11D? The P11D form is […]

Continue reading »

Business mileage rates

Posted by on 10.7.20 in Uncategorized

What is classed as business mileage? Business mileage is an important – but often overlooked – expense for sole traders, contractors, and directors employed by their limited companies. Business mileage covers the miles you travel for business purposes, such as travelling to a client. You must only claim for journeys that are “wholly and exclusively” […]

Continue reading »

1 2 3 4 5