Tax

Your Making Tax Digital Questions Answered

You may have heard a lot about digital tax recently, as the government’s ‘Making Tax Digital’ (MTD) initiative ramped up at the start of the new financial year. Eventually, business owners across the UK will be affected by MTD but many are still unsure about what digital tax really means and how it will affect them.

How does offshore company formation work?

Have you ever considered forming your company in another jurisdiction? Well this just so happens to be a service that we offer at Company Formation MadeSimple.

What is a P11D and why do I complete it?

[caption id="" align="alignright" width="256"] When and why do you need to complete the P11D document?[/caption] A P11D is a form that is completed at the end of the Tax year to record expenses and benefits that have been provided to your employees (or to you as a director).

Guide to your Free Business Start Up Toolkit

[caption width="275" align="alignright"] Your Start Up Toolkit [/caption]Starting your own company is a very exciting time; however it can be confusing deciding where to turn first. The free Business Start Up Tool Kit is designed to help you make those first tentative turns.

A Visit to Number 10 Discussing Small Business Issues

It’s not every day you get invited to visit Number 10 to talk ‘small business’ with senior advisors to the Prime Minister. [caption id="" align="aligncenter" width="634"] Outside Number 10!

What do HMRC need from a new company?

Emily Coltman FCA, Chief Accountant to FreeAgent - who provide an award-winning online accounting system for small businesses - explains what companies must send to HMRC and when. Registering the company HMRC are automatically notified when a company is formed at Companies House, so about three weeks after registering your new company, you will receive an introductory letter from HMRC.

Limited Company Jargon Buster

Not sure what a limited company term means? Take a look at our handy jargon buster.

So what is a Dividend?

A short and sharp one today. If a company has made enough profit it is able to pay its shareholders a dividend.

How does a Limited Company get a Unique Tax Reference?

Once a limited company has been formed, Companies House will notify HMRC of the company’s incorporation. Roughly three weeks after the formation HMRC will mail a letter to the registered office explaining what the company needs to do next, in this letter you will find the “Unique Tax Reference” or “UTR”.

Registering as a Sole Trader: What you get

Unlike forming a limited company, when you start up as a sole trader you will not receive a company number or a certificate of incorporation. Instead HMRC will mail you a letter which will include your Unique Tax Reference (UTR).

SEIS: Good News for Investors & Start Ups

From small seeds grow great things and that’s certainly the thinking behind The Seed Enterprise Investment Scheme (SEIS). The scheme, brought in place by the Finance Act 2012, shall provide tax breaks for investors in new companies therefore encouraging investment in UK business.

“HMRC say nothing is required of my Dormant Limited Company”

When we inform our customers of impending due dates for their limited company, this is the response we’re often met with. Unfortunately it is a misleading statement.