by admin | Feb 17, 2025 | Business Support |
Deciding whether to incorporate your business in the UK involves evaluating several key factors: Limited Liability Protection Incorporating as a limited company creates a separate legal entity, safeguarding your personal assets from business debts and liabilities....
by admin | Feb 17, 2025 | National Insurance |
Even if you have never been employed, you might have been eligible for NI credits without realising it. For example, if you have been a carer for a sick or disabled person for more than 20 hours a week, you could have claimed Carer's Credit. Similarly, if you have...
by admin | Feb 13, 2025 | Construction Industry Scheme |
The Construction Industry Scheme (CIS) requires contractors to deduct tax from subcontractor payments and file monthly returns with HMRC. Even if no payments are made, nil returns must be submitted to avoid penalties. The CIS is a specialised set of rules...
by admin | Feb 13, 2025 | Employee Benefits |
If you use a company car for private travel, it's taxed as a Benefit in Kind (BIK). The tax rate depends on the car’s list price and CO2 emissions—low-emission vehicles get tax breaks. Use HMRC’s online tool to check and update your company car...
by admin | Feb 13, 2025 | Income Tax |
Tax on rental income from jointly owned property depends on ownership shares, unless part of a partnership. Married couples default to a 50/50 split unless they notify HMRC of a different income allocation based on actual ownership proportions. When property is...
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