Salary vs Dividends

Salary vs Dividends

Salary vs Dividends – A popular profits extraction strategy for personal and family companies is to extract a small salary, taking further profits as dividends.  Where this strategy is pursued for 2019/20, what level should be the salary be set at to ensure the...
Good Business Records

Good Business Records

Keeping complete and accurate business records is vital to ensure that you pay the correct amount of tax and file correct tax returns with HMRC. This applies regardless of whether you are running a business as a sole trader or in partnership or operating a limited...
VAT – Should You Leave The Flat Rate Scheme?

VAT – Should You Leave The Flat Rate Scheme?

Let’s get something out in the open right now – VAT is not a scary word. VAT, or value added tax, is just another part of running a business in the UK. Most businesses in the UK who sell products have to be registered for VAT, and most who offer services as well too....