Being a director of a limited company means having the ability to pay yourself in a different manner to being a typical PAYE employee.
With the tax 2022/23 tax year soon coming to an end, you need to be prepared to provide your employees with their P60 forms.
Getting the tax year off to a good start will help you to optimise your overall financial position. But you need to plan ahead.
During the 2023 Spring Budget, the Chancellor announced changes to pensions, which may alter the way you save for retirement.
Artificial Intelligence (AI) is becoming increasingly advanced so, as a business owner, you need to get on board or you might get left behind.
You will now have more time to make any voluntary National Insurance (NI) contributions, as the deadline has been extended. A Written Ministerial Statement on 7 March 2023 announced that the original deadline of 5 April 2023 has been pushed back to 31 July 2023, in response to public concerns about the closure of the voluntary contribution window.
You are an established business and doing well, but you are still ambitious and looking to improve and expand.
It’s important to stay up to date with the latest regulations and requirements related to taxes, including Value Added Tax (VAT) to avoid penalties.
Starting your own business is a major achievement and you will have spent a lot of time planning this venture and hoping for success.
But navigating through the first year of this new business will be essential to achieve your goals and it can be difficult to know what you should be doing.
If you are running a business, handling VAT returns can be complex.
You may have submitted returns with errors previously if you were unsure of what to do and could be at risk of further investigation or fines from HM Revenue & Customs (HMRC).
