You can take your earnings from the business as a combination of salary and dividends as a company director and shareholder–this can limit the amount of tax you’ll personally have to pay. The difference is made up by your company, which pays 19% in ... [Continue Reading]
Changing priorities at HMRC
By having an Accountant who keeps up to date with changes to the tax system means you will always be kept in the 'know'. At Central Business Services we keep up to date with the legal requirements to ensure you pay the right taxes ... [Continue Reading]
Not using an Accountant can be expensive
On average because of poor management. The AAT (Association of Accounting Technicians) have carried out a study that found small businesses are losing on average around £15,000. This is due to them not using professionals and by trying ... [Continue Reading]
HMRC plan to investigate 10% of small firms
HMRC’s plan to increase the number of tax investigations emphasises the need for Fee Protection Insurance. The average HMRC investigation lasts more than 16 months with more than 500,000 sole traders, partnerships ... [Continue Reading]
Can the Taxman Break Your Property Records?
As a landlord, if there is a tax investigation the best defence is to have carefully kept business records. Making sure the accounts are in accordance with those records is a good starting point. It may sound easy, however most of us can admit to ... [Continue Reading]
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