Limited company

What is the difference between trading through a Limited Company or deciding to be self-employed? Are they taxed the same? Can you only be VAT registered if you have a Limited Company? If you trade through a Limited Company, can you avoid the payment on account? You may h...
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Should I register for VAT?

February 27, 2019
There may come a time when you will start to wonder whether becoming VAT registered will benefit your business. You could reach this point before you even begin trading but it might never cross your mind until your business ramps up a notch. Either way, there are a couple o...
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When you first begin to trade, you may question whether you need to set up a business bank account or whether you can use your personal bank account. As business bank accounts typically have charges attached to them, it can make sense to try to avoid these costs and using a...
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Do I need an accountant?

July 30, 2018
I’ve recently come across a number of freelancers asking if they need an accountant. It’s a fair question, as when you are starting up, or if your business is in a famine stage (rather than the favourite feast stage), it’s common sense to question where you are spendin...
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You have decided to start your own business and you are ready to go. This first thing you may decide to do is join a networking group. Get a logo made. Google how to get your first customers. All the fun things. But whilst marketing is understandably sexy and fun, there are ...
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The first time most business owners hear the term Directors Loan Account, is when they sit down with their accountant to discuss their Limited Company year-end accounts. I know from taking client meetings myself, that us accountants don’t always explain what this account ...
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You’ve decided to set up and trade through a Limited Company. It’s started to make money and that money is sat in the bank account. You now want to get paid. So, you can just take the money from the bank account, right? Not exactly....
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IR35 in the name of the legislation that HMRC has created to crack down on contractors who should really be employees. If you have recently set up a Limited Company and your business has only one client, or maybe a portfolio with one larger client, you might have heard IR35...
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One of the first decisions that you need to make when you decide to start your own business, is whether to be self employed or trade through a Limited Company. Your initial response may be to ask around; see what friends or family do. Maybe even ask on a social media forum. ...
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