What are dividends and when can they be paid?

2019-06-04T10:33:03+01:00By |

If you’re an independent contractor who is working through your own limited company, as well as being a director, you will also likely be a shareholder. This means you are entitled to receive dividend payments on any retained profits that are held within the company. In this article, we explain in further detail what dividend [...]

Things to consider when making children shareholders

2019-05-29T09:58:48+01:00By |

If you run a limited company and have children, you can give them a stake in the business and provide them with the opportunity to benefit from any profit the business makes by making them shareholders. If your children are of an age where they can attend university, giving them shares can provide them with [...]

The £85,000 FSCS protection and how it applies to your ltd company bank account

2019-05-16T15:40:21+01:00By |

With the collapse of Northern Rock, Bradford & Bingley, Icelandic banks and others now over 10 years ago, savers should still be thinking “Is my money safe?” As your business grows, it is likely the cash you hold in the company bank account will grow too. Any cash deposited with a bank or building society [...]

What taxes do I need to pay as a contractor?

2019-05-14T09:50:16+01:00By |

Leaving the world of employment and stepping out on your own as an independent contractor is both exhilarating and terrifying.  One of the biggest challenges you’ll face initially is getting your head around what taxes you need to pay. We always recommend that contractors engage with an experienced contractor accountant (like ourselves for instance!) but [...]

What do you need to know about Entrepreneurs Relief?

2019-05-08T14:06:03+01:00By |

On closure of a company, retained reserves (net profit after the payment of Corporation Tax) in a company can be distributed as a "capital distribution". The owners of small businesses may be entitled to entrepreneurs' relief when they sell or close down their business. What does entrepreneurs relief do? The relief delivers a 10% tax [...]