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If you’re a company director, one of the most important financial decisions you’ll ever make is how you’ll pay yourself. You do not work the way traditional employees do, and you have the ability to structure your income in different ways, most commonly as a salary, dividends, or a mix of the two. That being… Continue reading Director’s Pay: Salary vs. Dividends – Which Option is Best for You?
The UK tax system is incomplete without Capital Gains Tax (CGT) which is usually overlooked until it’s a problem. That applies to the profit you make when selling or giving away something that has grown in value, and the tax is levied on the gain, not the entire proceeds. Individuals and businesses need to understand… Continue reading Understanding Capital Gains Tax: How It Affects Individuals and Businesses in the UK
As the tax season approaches, businesses of all sizes in the UK often feel overwhelmed by the complexity of tax regulations. As the rules are constantly evolving, deadlines getting tighter, and complexities of accurate financial management, errors are highly likely. However, knowing the major pitfalls can help companies streamline their tax process and cut back… Continue reading 10 Common Mistakes Businesses Make During Tax Season
The dividend tax and NIC hike of 1.25% have hit the tax and accounting aspect of many employees, small business owners, and self-employed. As a matter of fact, one employee’s living wage would cost an extra 200 Euros per year, and if the number of employees is considerable, the sum would add up to a… Continue reading How can small businesses adjust to NIC and dividend tax changes?
The government’s decision to increase the national insurance and the dividend tax has had much controversy paving the way for more precise tax and accounting services. While there has been much going around with the impact of the decision on workers, the changes have a lot to do with employers costs as well. First, let’s… Continue reading What does the NIC and dividend tax hike mean for your business?
