It’s the directors’ responsibility to file their company’s accounts, and make sure they’re filed on time. It’s important to understand your role and how late filing could affect your company. Missing your filing deadline could affect your credit
Most dictionaries define “bottom line” as “the most important thing to consider”. In financial circles it’s taken to mean a focus on profitability (the last line on a P&L accounts) or net worth (the bottom line of your
In the recent Autumn Statement, the Chancellor announced two important changes to National Insurance contributions (NIC) for the self-employed. The first change concerns the removal of Class 2 NICs for the self-employed. This means that
In the recent Autumn Statement, the Chancellor announced a significant change to National Insurance contributions (NIC) for employees. There will be a cut in the main rate of Employee National Insurance from 6 January 2024. This will see Class 1
The Corporation Tax main rate for companies with profits in excess of £250,000 increased to 25% on 1 April 2023. A Small Profits Rate (SPR) of 19% was also introduced from the same date for companies with profits of up to £50,000 ensuring these
The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies to raise finance by offering a range of tax reliefs to investors who purchase new shares in those companies. To claim investor EIS tax reliefs, the
In the Autumn Statement it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme will be merged from April 2024. It was also confirmed that there will be an enhanced regime for R&D intensive SMEs. The
The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023. The new Act provides Companies House with more power to reduce the abuse of corporate structures whilst at the same time tackling economic crime. As part of
In some respects, the Chancellor’s predicament is deserving of a sympathetic ear; its as if he has a long journey ahead but has one foot firmly nailed to the floor. Stagnant growth in the UK and global economy has driven up taxation in order to meet
To be a director, you must be over 16 and not currently disqualified. As a director your responsibilities include: filing your company’s annual accounts and reports or appoint an accountant to do it for you reporting changes in you or your
By continuing to use the site, you agree to the use of cookies. More information
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.
