Limited Company

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  • From April 2022, both national insurance and dividend tax are set to rise by 1.25%.

    National Insurance and dividend tax to go up 1.25% from April 2022

    From April 2022, both national insurance and dividend tax are set to rise by 1.25%.

  • Making mileage payments to employees.

    Making mileage payments to employees

    As the country emerges from the Covid-19 pandemic, business travel is once again on the agenda. 

  • Collection of tax debts post Covid-19.

    Collection of tax debts post Covid-19

    During the Covid-19 pandemic, HMRC paused much of their tax collection work but as the country starts to emerge from the pandemic, HMRC have once again turned their focus to the collection of tax debts, publishing a policy paper setting out their approach.

  • No retained profits – Can you extract cash to cover your living expenses?.

    No retained profits – Can you extract cash to cover your living expenses?

    If you operate through a limited company, for example as a personal or family company, you will need to extract funds from your company in order to use them to meet your personal bills.    

  • Take advantage of the enhanced carry back of losses.

    Take advantage of the enhanced carry back of losses

    Many businesses have suffered losses as a result of the Covid-19 pandemic, and where a business has made a loss, various options are available to obtain relief for that loss. The challenge is to make the best use of the loss.

  • Super-deduction for capital expenditure.

    Super-deduction for capital expenditure

    To encourage companies to invest, enhanced capital allowances are available for expenditure incurred within a limited two-year window. 

  • A popular profit extraction strategy for shareholders in personal and family companies is to pay a small salary and to extract further profits as dividends. The optimal salary will depend on whether the employment allowance is available to shelter any employer’s National Insurance liability that may arise.

    Personal and family companies – Optimal salary for 2021/22

    A popular profit extraction strategy for shareholders in personal and family companies is to pay a small salary and to extract further profits as dividends.     

  • Budget 2021.

    Budget 2021

    A summary of the announcements made by the Chancellor of the Exchequer Rishi Sunak in the 2021 Budget on Wednesday 3rd March 2021.

  • IR35 and off-payroll working – what to do from 6 April 2021

    IR35 and off-payroll working – what to do from 6 April 2021

    Are you ready for the changes to IR35 and off-payroll rules coming in on 6th April 2021? Read our short summary of the changes.

  • Self-employment and the £2,000 dividend allowance.

    Self-employment and the £2,000 dividend allowance

    All taxpayers, regardless of the rate at which they pay tax, are entitled to a tax-free allowance for dividends.

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