Do Limited Companies Need CIS Registration? Here’s What You Need to Know

Accounting, Business, Construction, Limited Company / By Yamin Faruk / 05/12/2025

Running a limited company in the construction sector comes with many responsibilities and one of the most important is understanding CIS (Construction Industry Scheme). CIS is a set of HMRC rules that controls how payments are made between contractors and subcontractors in construction. Its main purpose is to make sure the right amount of tax […]

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What Happens to Your Company’s Debts After Liquidation?

Accounting, Company Liquidation, Limited Company / By Yamin Faruk / 03/11/2025

When a company can’t pay its debts or decides to close, it goes through liquidation. A liquidator is a person who helps close the company properly. They collect and sell the company’s assets and use the money to pay back creditors in a set legal order. What Happens to Debts During Liquidation When a company

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The Impact of Liquidation on Employees: Wages, Redundancy, and More

Accounting, Company Liquidation, Limited Company / By Yamin Faruk / 16/10/2025

When a company goes into liquidation, it means the business can’t pay its debts and must close down. An Insolvency Practitioner is appointed to sell the company’s assets and use the proceeds to pay its creditors. Liquidation doesn’t just affect the business and its directors it has a direct impact on employees too. Staff may

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How to Handle an Overdrawn Director’s Loan Account During Liquidation

Accounting, Company Liquidation, Limited Company / By Yamin Faruk / 08/10/2025

A Director’s Loan Account (DLA) is a record of money a director has either borrowed from or lent to their company. It can include personal withdrawals, expenses, or loans made to the business. When a Director’s Loan Account (DLA) is overdrawn, the director owes money to the company. This can happen if personal withdrawals exceed

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Corporation Tax Late Payments: Everything You Need to Know About Penalties and Interest

Accounting, Business, Limited Company / By Yamin Faruk / 16/09/2025

Corporation Tax is a tax that limited companies in the UK pay on the money they earn. Just like people have to file Self Assessment tax returns, companies must submit a Corporation Tax return and pay their tax by HMRC’s deadlines. Paying on time is important. It doesn’t just keep your business legal it also

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What Counts as a Zero-Rated VAT Supply in the UK

Accounting, Construction, Limited Company / By Yamin Faruk / 09/09/2025

If you’ve ever run a business in the UK, you know that VAT can feel complicated. How different VAT rules affect everyday sales, and one category that often confuses people is zero-rated VAT. In simple terms, zero-rated supplies are goods and services that are taxable but charged at 0% VAT. That means your customers don’t

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Do Landlords Need to Pay VAT on Rent? A Guide to VAT for Property Owners

Accounting, Limited Company / By Yamin Faruk / 26/08/2025

Many UK landlords and Airbnb hosts worry about charging the wrong amount or missing a rule. Long term rent often does not have VAT. Short stays can have VAT like a hotel. Commercial rent can change if you choose to charge VAT on the property, which is called the option to tax. Add the rolling

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A Complete Guide to VAT Reliefs for Charities in the UK

Accounting, Limited Company / By Yamin Faruk / 18/08/2025

Running a charity in the UK involves key tasks like handling taxes, keeping financial records, and following legal rules. VAT can be especially tricky, with specific rules for charities that can be easily overlooked. Missing out on the reliefs you’re entitled to could result in paying more than necessary, which is the last thing any

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6 reasons limited company needs professional vat return service

6 Reasons Your Limited Company Needs Professional VAT Return Services

Accounting, Business, Limited Company / By Yamin Faruk / 05/08/2025

It might be hard and take a lot of time to handle VAT returns for your limited company. No matter what field you’re in, whether it’s retail, construction, or something else, VAT returns need to be done correctly and in line with the most recent rules. Mistake or missing deadlines can result in fines, compliance

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Do You Need a Self‑Assessment Tax Return for Refunds or Reliefs?

Accounting, Limited Company, Self Assessment / By Yamin Faruk / 28/07/2025

Wondering if you need to file a Self‑Assessment tax return to claim a refund or get tax relief? This is a common question during tax season, especially for those who do not usually complete a tax return. The answer depends on your situation, the type of income you have, and how you want to claim

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