Should I Go Into Partnership

Self-Employed National Insurance

Limited Company Taxation

Published / Last Updated on 30/01/2014

Taxation for directors of limited companies is different to employees. If you are having trouble calculating tax due on profits speak to us.

Related Videos

Directors Share Protection and Cross Option Agreements

Directors Share Protection and Cross Option Agreements

What would happen to your business if you or your co-business owner(s) died today? Would the sign over the door be: Welcome to the offices of “I Messed It Up ...

28d

Business

Key Person Insurance? What if a Key Staff Member Cannot Work?

Key Person Insurance? What if a Key Staff Member Cannot Work?

Key Person Insurance Are you a business owner? Does your business rely on the owner/manager/directors or partners for revenue? Does your business have key personnel that it could not function without? What if ...

1m3d

Business

Making Tax Digital Timeline for Limited Companies

Making Tax Digital Timeline for Limited Companies

Timeline for Making Tax Digital (MTD) for limited company businesses for Value Added Taxes and Corporation Taxes. Value Added Tax (VAT): 6th April 2019: most VAT registered businesses with turnover exceeding ...

> 1y7m

Business

Making Tax Digital Timeline for Self Employed and Landlords

Making Tax Digital Timeline for Self Employed and Landlords

Making Tax Digital Income Tax Self Assessment (MDT ITSA): For the Self Employed and Landlords. 6th April 2024: MDT ITSA starts for both self-employed businesses, and landlords with business turnover ...

> 1y7m

Business

Employee Share Incentive Plans SIPs

Employee Share Incentive Plans SIPs

Your employer gives you shares as part of a Share Incentive Plan (SIP). Income Tax and National Insurance No income tax and national insurance payable if you hold the shares in ...

> 1y10m

Business

Employee Save As You Earn SAYE Schemes

Employee Save As You Earn SAYE Schemes

This is a savings-related share scheme where you can buy shares with your savings for a fixed price at the end of the savings term. How SAYE works? Your employer offers ...

> 1y10m

Business

Employee Company Share Option Plan

Employee Company Share Option Plan

Fixed and discounted price company share option plans are permitted by HMRC when offered to you by your employer, giving you the option to buy up to £30,000 worth ...

> 1y10m

Business

Employee Enterprise Management Incentives (EMIs)

Employee Enterprise Management Incentives (EMIs)

Enterprise Management Incentives (EMIs) approved by HMRC must satisfy the following criteria: Company must have assets of no more than £30 million Maximum Share Options that can be granted to employees ...

> 1y10m

Business

Tax Rules for Special Employee Shareholder Status

Tax Rules for Special Employee Shareholder Status

To be classed as having employee shareholder ‘status’ you must own shares in your employer’s company worth £2,000 or more when you got them. In addition, provided between both ...

> 1y10m

Business

Pensions Versus Corporation Tax Changes 2023

Pensions Versus Corporation Tax Changes 2023

The main rate for corporation tax is currently 19% and increases to 25% on 1 April 2023. Therefore, if your company year end is after 31 March 2022 i.e., 1 ...

> 2y

Business

Directors Jointly and Severally Liable for Evading Company Tax

Directors Jointly and Severally Liable for Evading Company Tax

The Finance Act 2020 gave HMRC additional powers to deter the use of deliberate tax avoidance or tax evasion. For example, it has been regularly seen that directors ‘strip’ limited ...

> 2y4m

Business

Making Flexible Working The Default Employment Position

Making Flexible Working The Default Employment Position

On 23rd September 2021, HMRC published a new consultation document called “Making Flexible Working The Default” as part of a review of the Flexible Working Regulations (2014). Much of ...

> 2y6m

Business

Selling a Business Thoughts and Tips

Selling a Business Thoughts and Tips

Seemingly, every week we get approached to sell our business as well as details on businesses looking to sell out to us. There are hundreds of sites, blogs and ...

> 2y6m

Business

CEST Check Employment Status for Tax Tool

CEST Check Employment Status for Tax Tool

Are you a contractor? Are you a business that uses contractors to outsource work, services or development? Many will be aware of IR35 builders and their sub-contractors where a number ...

> 2y8m

Business

Dissolving a Limited Company

Dissolving a Limited Company

New guidance has been issued by Companies House when voluntarily shutting down, winding up or dissolving a limited company, known formally as ‘striking off’. The company being dissolved should: Be a ...

> 2y7m

Business

G7 Cornwall Global Corporation Tax Rate Agreed

G7 Cornwall Global Corporation Tax Rate Agreed

As the G7 Summit hits Cornwall this week, locally down at our Head Office in Newquay, we are bracing ourselves for road closures, protestors on their way with our ...

> 2y10m

Business

Dividends v Pension Contributions Revisited

Dividends v Pension Contributions Revisited

Many business owner/directors have decisions towards year end when businesses are in profit as to whether they pay corporation taxes and retain that profit in the business for net ...

> 2y11m

Business

Help To Grow Scheme for Small Business

Help To Grow Scheme for Small Business

The Government has announced a Help to Grow Scheme for small businesses to help them develop to their full potential both strategically via management skills development and digitally. The ...

> 3y1m

Business

IR35 Off Payroll Working Check Employment Status

IR35 Off Payroll Working Check Employment Status

IR35 was made law in 1999 and came into force in 2000. It was a tightening of reporting rules to restrict and prevent tax avoidance by ‘off payroll’ workers ...

> 3y1m

Business

How To Value Your Business

How To Value Your Business

Rule Number 1 – Owners tend to overvalue their business Rule Number 2 – Purchasers look for cost cutting opportunities, profit making opportunities and synergy i.e. how would your business ...

> 4y1m

Business

Construction Industry Scheme CIS

Construction Industry Scheme CIS

Under the Construction Industry Scheme (CIS) contractors are required to register with HMRC and subcontractors should also register with HMRC. When contractors hire subcontractors such as builders, plumbers, roofers, gas, ...

> 4y2m

Business

Business Credit Card Charges

Business Credit Card Charges

The Great British Business Card Rip Off for businesses that accept card payments are: Charged monthly to have a card merchant account Charged a % of the transaction fee by the ...

> 5y1m

Business

Reminder VAT Returns and Making Tax Digital

Reminder VAT Returns and Making Tax Digital

Reminder about your VAT returns and the Making Tax Digital deadline that starts 01/04/2019. For Tax Year 2018/19 the VAT Threshold = £85,000. From 01/04/2019 you cannot submit VAT returns using ...

> 5y1m

Business

Making Tax Digital MTD and Business VAT 2019 Changes

Making Tax Digital MTD and Business VAT 2019 Changes

The changes to business VAT in April 2019 and what you need to do for Making Tax Digital (MTD) for your business in 2019....

> 5y3m

Business

Pensions Carry Forward Limited Company Business Owners

Pensions Carry Forward Limited Company Business Owners

We take a look at pension contributions and carry forward of unused pension annual allowance for limited company business owners and directors....

> 5y6m

Business

Could Limited Company Buy to Lets Pay More Tax

Could Limited Company Buy to Lets Pay More Tax

Following publication of a discussion paper by the Office for Tax Simplication in May 2018, we revisit an idea about bringing dividend tax into line with income taxes that ...

> 5y9m

Business

Business Gift Limits and Staff Gift Limits

Business Gift Limits and Staff Gift Limits

Following an email received on sponsoring a golf tee and receiving 24 X 4 ball rounds of golf no charge, we explore the rules and limits on business gifts ...

> 5y9m

Business

Company Group Risk Life Insurance v Key Person Insurance

Company Group Risk Life Insurance v Key Person Insurance

What is the best insurance for employers on employees? We take a look at and compare company group risk life insurance v key person insurance....

> 6y2m

Business

Company Group Sickness Insurance Scheme

Company Group Sickness Insurance Scheme

We explain the basics of Group Sickness Insurance or Group PHI from as small as 2 employees, it's low cost and how it can benefit both employers and employees....

> 6y2m

Business

Company Group Life Insurance Scheme

Company Group Life Insurance Scheme

We explain the basics of Group Life Insurance, from as small as 2 employees, it's low cost and how it can benefit both employers and employees....

> 6y2m

Business

Single Shareholder Director Limited Company Problem On Death

Single Shareholder Director Limited Company Problem On Death

Single Owner/Director Limited Companies set up before 2006 have a major problem with 'Off the Shelf' Articles of Association (before 2006) may not have the power to appoint new ...

> 6y3m

Business

Micro Entity v Abridged v Full Accounts for Companies House and HMRC

Micro Entity v Abridged v Full Accounts for Companies House and HMRC

Video explores the difference types of account submission reporting to Companies House and HMRC looking at Micro Entity v Abridged v Full Accounts....

> 6y10m

Business

Business Rates Calculation

Business Rates Calculation

Business rates and business rateable values were reassessed in 2017. We give the low down on Business Rates Calculation 2017, small business rates relief, holiday let business rates and ...

> 7y1m

Business

Should You Pay Upfront

Should You Pay Upfront

Video explores the pros and cons of paying upfront for fees or services or works. Should you get a written contract? What can I do if I am unhappy ...

> 7y5m

Advice Tips

How To Grow UK Economy By 17 Billion

How To Grow UK Economy By 17 Billion

Video looks at how we can grow UK economy by making one simple change to keep money in UK rather than flowing to overseas firms, creating local employment and wealth....

> 7y8m

Business

New Business Development Funding

New Business Development Funding

Video explores regional development fund, support and training available to those looking to start up a new business, new product or service....

> 7y9m

Business

Death Succession Planning for Partnerships

Death Succession Planning for Partnerships

Video explores succession planning for partnerships on death looking at the three types of partnership agreement: automatic accrual, buy and sell agreement and cross option agreement....

> 7y11m

Business

Family Pension Trust Fund

Family Pension Trust Fund

Video looks at setting up your own family pension fund or family pension trust, combining family and/or relatives pension funds to offer bigger investment opportunities for business....

> 7y11m

Business

Optimum Pay Single Director Limited Company 2016

Optimum Pay Single Director Limited Company 2016

Videos covers the changes to dividend taxation 2016-17 and withdrawal of employers allowance on Employers National Insurance for single director employee limited companies and what your optimum pay could be....

> 7y11m

Business

Limited Company Buy To Let Mortgage

Limited Company Buy To Let Mortgage

Video explores the increasing demand for buy to let mortgages for limited companies....

> 8y1m

Business

Pay Dividend Before Dividend Tax Starts

Pay Dividend Before Dividend Tax Starts

Video explores the new dividend tax and whether you should take or pay a dividend before the new tax laws start in April 2016....

> 8y4m

Business

New Dividend Tax Self Employed v Limited Company

New Dividend Tax Self Employed v Limited Company

Video explores the issues of trading as a limited company with the new dividend tax in 2016 versus being a sole trader and self employed....

> 8y5m

Business

Auto Enrolment Advice Small Business

Auto Enrolment Advice Small Business

Video looks at our auto enrolment service for small employers. Whether to use the scheme set up by government or to use our full advice service for a wider ...

> 8y5m

Business

Working From Home Expenses

Working From Home Expenses

Video explores HMRC's position on working from home and the expenses you can claim. Expenses allowed are not as much as you think. If too much is paid, tax ...

> 8y6m

Archives

Pension Auto Enrolment Small Employer 2015 2016

Pension Auto Enrolment Small Employer 2015 2016

Video looks auto enrolment workplace pensions for Small Employers with staging dates 2015 and 2016 which pension companies to use....

> 8y6m

Business

National Living Wage 5 Years Behind

National Living Wage 5 Years Behind

Video: National Living Wage announced in Summer Budget 2015 is 5 years behind given that the Living Wage is already over £9hr in London and nearly £8hr rest of ...

> 8y7m

Business

Can I Buy Company Shares With Pension SIPP

Can I Buy Company Shares With Pension SIPP

Video explains the rules for how to buy private limited company shares with either a company pension scheme e.g. SSAS or a private, personal pension plan such as a SIPP....

> 8y8m

Business

Summer Budget 2015 Dividend Tax

Summer Budget 2015 Dividend Tax

Video looks at the dramatic withdrawal of the dividend tax credit and the introduction of a tax free dividend allowance and then tiered rates of tax starting at 7.5% ...

> 8y9m

Business

Summer Budget 2015 National Living Wage

Summer Budget 2015 National Living Wage

Video looks at the Summer Budget 2015 and the introduction of the National Living Wage to replace, in part, the National Minimum Wage....

> 8y9m

Politics & Economy

SSAS Small Self Administered Scheme

SSAS Small Self Administered Scheme

Video explains the basics for a director or senior employee's self invested pension scheme called a SSAS, a Small Self Administered Scheme....

> 8y9m

Business

Week 1 Month 1 Emergency Tax Explained

Week 1 Month 1 Emergency Tax Explained

Video looks at how emergency tax on a week 1 month 1 basis is taxed and how it affects you for earned income under PAYE or if you have ...

> 8y10m

Tax Plan

Why is Deflation Bad for Economy

Why is Deflation Bad for Economy

Video explains negative inflation i.e. deflation and whilst lower prices may appear to be good it is actually bad for the economy....

> 8y11m

Advice Tips

Budget 2015 Stop Self Employed Class 2 National Insurance

Budget 2015 Stop Self Employed Class 2 National Insurance

Chancellor confirms that flat rate class 2 National Insurance for self employed will stop but we believe this is about harmonising tax take for both employed and self employed....

> 9y

Business

Auto-Enrolment Workplace Pension 2 to 50 Employees

Auto-Enrolment Workplace Pension 2 to 50 Employees

Video and article explains workplace pension auto enrolment staging dates rules 2015, 2016 and 2017, as well as minimum payments for employee and employer, if you already have a ...

> 9y1m

Pensions

Auto Enrolment Pension Single Director Company

Auto Enrolment Pension Single Director Company

Video explains what one director, single employee companies must do to comply with auto-enrolment, work place pensions.Transcript: Auto Enrolment Pension Single Director Company“Hello there. Auto enrolment pensions for very ...

> 9y1m

Business

Company Director Best Way Take Profit

Company Director Best Way Take Profit

Video looks at pensions as the best way to extract profits from your business rather than dividends. Less tax, more money, less or nil inheritance tax too. Pension v ...

> 9y1m

Advice Tips

Too Much Cash In Business Loses Tax Relief

Too Much Cash In Business Loses Tax Relief

Video explains how having too much cash in your business may result in the loss of or reduction in entrepreneurs relief and business property relief.Transcript:“Hello there. The subject for ...

> 9y5m

Inheritance

Flexible Working Hours Explained

Flexible Working Hours Explained

Short video explaining the new wider rules and employee rights to Flexible Working Hours in the UK...

> 9y9m

Business

Register for Pay M with your bank from 02/04/14Pay M goes live on the 29th April 2014It will allow money to be transferred from one bank account to another ...

> 10y

Business

EU Secondment Rules

EU Secondment Rules

If your employer wants to send you overseas to work then within the European Union you can go and work in that country temporarily on secondment.Initially HMRC will grant ...

> 10y1m

Business

Scottish Independence Financial Services

Scottish Independence Financial Services

Financial advisers require a financial services passport to be allowed to give advice in Europe.There are similar rules in place for banks.If advisers want to give advice in other ...

> 10y1m

Advice Tips

Tax Return Late Fees

Tax Return Late Fees

If you file your HMRC tax return just one day late you are issued to a £100 penalty.After this you build up fines of £10 per day for 90 ...

> 10y1m

Tax Plan

Buying Company Shares With Your Pension

Buying Company Shares With Your Pension

Company pension funds can use a maximum of 20% to buy shares in multiple companies that you own. However, they are only allowed to own a maximum of 5% ...

> 10y1m

Business

Pension Fund Loans

Pension Fund Loans

A pension fund can lend up to 50% of its current value to a sponsoring business/employer.Must be a secured loan, the security must be immovable tangible assets.Must be done ...

> 10y2m

Pensions

Pensions For Directors

Pensions For Directors

With a director’s pension contribution it is not a benefit in kind, it does not create any national insurance liability for you and it does not create any national ...

> 10y2m

Pensions

Setting Up A Limited Company

Setting Up A Limited Company

A limited company is a totally separate entity to you personally.With a limited company if you were to make a mistake and someone sues your company, your liability is ...

> 10y2m

Business

Director National Insurance

Director National Insurance

As a director of a limited company you are an employee.You pay national insurance contributions on your salary and your company pays national insurance on your salary.However if you ...

> 10y2m

Business

Should I Go Into Partnership

Should I Go Into Partnership

For a partnership business you enter into an agreement with your partner.The partnership agreement will set out things like distribution of profits.You are still responsible for your business actions.You ...

> 10y2m

Business

Self-Employed National Insurance

Self-Employed National Insurance

If you are self-employed then national insurance contributions are calculated depending on profits.At the date of this video, if your profits are between 0 and £6000 there is no ...

> 10y2m

Business

Self-Employment Income Tax

Self-Employment Income Tax

When you are an employee income tax is automatically deducted, when you are self-employed it is not....

> 10y2m

Tax Plan

Should I Go Self-Employed

Should I Go Self-Employed

All the income that comes from the business is personal income.Any work you do you are personally liable for.As a self-employed person you must file self-assessment returns for tax.It ...

> 10y3m

Business

Videos Channels

Our Financial Advice Fees Quotes and Shop

Money Tips Cost of Living & Covid

Cost of Living & Covid

Markets & Alerts

Markets & Alerts

Expat & Offshore

Expat & Offshore

At Retirement Options for Pensions

Options At Retirement

Pension Transfers

Pension Transfers

Green Inv ESG SRI

Green Inv ESG SRI

Law, Wills, Attorneys

Law, Wills, Attorneys

Politics and Economy

Politics & Economy

Should I Go Into Partnership

Self-Employed National Insurance