Value Added Tax (VAT) is an essential tax in the UK that affects many industries, including construction. Builders need to understand how VAT works, especially when purchasing building materials for projects or applying VAT to client charges. VAT is a tax added to products (goods and services), and it is collected by businesses on behalf […]
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Preparing your UK business for year-end tax filing and compliance is essential to staying financially organised and avoiding penalties. Whether you run a small startup or a larger enterprise, preparing for year-end can help you avoid costly mistakes and penalties. In this article, we’ll walk you through everything you need to prepare your UK business
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Liquidating a limited company in the UK means legally closing the business and handling all debts and obligations correctly. Business owners may need to liquidate due to financial difficulties, a decision to close a solvent company, or restructuring plans. This article will explain the liquidation process step by step, helping you close your company without
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When starting a business in the UK, selecting the right company structure is important as it impacts operations, fundraising, and control. Limited companies offering limited liability protection to safeguard personal assets are a popular choice. The two main types are private limited companies (Ltd) and public limited companies (PLC). Understanding the differences between these structures
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Running a limited company comes with different costs, but many of these costs can help reduce your tax bill. Claiming the right expenses ensures your company remains tax-efficient and compliant with HMRC rules. In this article, we’ll explain Claimable Expenses for Limited Companies in the UK to help you understand what you can and cannot
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The Construction Industry Scheme (CIS) is a tax deduction system specifically designed for the UK construction industry. Understanding CIS returns is crucial for contractors and subcontractors to stay compliant and maximise potential tax refunds. Whether you’re new to the industry or simply looking for a clearer understanding, this article will walk you through the basics
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Preparing annual accounts for a limited company might seem challenging but with a straightforward approach, it becomes much more manageable. Annual accounts provide a clear picture of a company’s financial position and help ensure compliance with legal and regulatory requirements. In this article, we’ll cover the main elements of annual accounts, go over the filing
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Submitting an accurate Self-Assessment tax return is important, but errors can occasionally slip through. If you’ve noticed a mistake in your tax return, there is no need to stress. Our guide will walk you through correcting errors in your tax return, whether you filed online or by post, and cover important deadlines to keep in
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A limited company is a business structure that provides limited liability protection to its owners. In the UK, limited companies are mainly categorized into two types: those limited by shares and those limited by guarantee. Each type has distinct characteristics and serves different purposes. Let’s break down these two types to understand their key differences.
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Choosing the perfect business structure is a crucial step for any entrepreneur. In the UK, one of the most popular options is a private limited company (Ltd), which offers numerous benefits of a private limited company that make it an attractive choice for business owners. From legal protection to enhanced credibility, understanding these advantages can
Top 12 Benefits of Registering a Private Limited Company in the UK Read More »