We’ve mapped out the important stuff you need to read from deciding on your business structure through to how to keep your books, what costs you can claim, what to file & when, important deadlines and how to pay yourself.
This is a great starter and a useful page to bookmark!
To read each article click on “continue reading”.
What business structure? Sole Trader or Limited Company
Assess if a limited company structure is best for your circumstances and if you need limited liability or have to operate as a limited company because your end client needs it.
Doing the books explained!
Find out how to do the accounting for your business easily including what system to use (including a recommendation for a best of breed FREE one!), understanding the transactions and the regular routine to follow to keep things on track.
Limited Company Basics
The life of a limited company business owner is complex when it comes to the set up and regulations. It’s important to have an awareness of what needs to be done. This explains it all ….
Limited Company – Accounts, Tax and Deadlines
Almost all businesses, regardless of size, have to prepare accounts and file tax returns. Find out what you have to file and when.
What Costs can you claim
The first, and main, rule on costs, and a question that should become second nature to you, is:
“Was the cost incurred wholly and exclusively for business purposes?”
How to pay yourself
No matter what business structure you choose to operate your business through the ultimate aim must be to make a profit so that you can pay yourself something out of the business to live on
How to pay yourself – Limited Companies have Salary and Dividends
Salaries are an allowable business cost for tax. Dividends are paid out of post tax profits.