Extracting profits from a small, limited company
It is pretty much universally accepted that shareholders (usually directors) of small companies take out their remuneration as a small salary – a salary pitched high enough to secure NIC benefits but not high enough to that employee NIC contributions are payable...
Translation
If you receive documents from overseas customers or suppliers and you need to translate text into English, have you used Google Translate? It’s a free, but incredibly powerful facility. You can select to translate: Individual blocks of text that you add to view...
What is a group company structure?
A group is formed when one company has control of, owns, a number of subsidiary companies. A group is different to an arrangement where an individual owns a number of companies personally. In this case the companies would be called associated or sister companies. What...
Tax relief for training costs
If you are self-employed it is important to know if an expense is tax allowable. Any allowable costs can be used to reduce your taxable profit. As a general rule you can claim for items that you would normally use for less than 2 years as allowable expenses...