Dividend or salary – or both to extract funds from your company

by Will | Apr 29, 2024 | Personal Tax, Planning, TAX

What is the most efficient method of extracting funds from your company? As a director of your limited company, you are not allowed to simply keep the profits in the same way that a sole trader does. Instead, you will need to decide how much to pay yourself. The...

The Budget and VAT

by Will | Apr 10, 2024 | Bookkeeping, Business, Personal Tax, Strategy, TAX, VAT

From 1 April 2024, the VAT registration threshold and deregistration thresholds each increased by £5,000 to £90,000 and £88,000 respectively.   The thresholds had previously been frozen at £85,000 and £83,000 since 1 April 2017. According to the government, this...

High-Income Child Benefit Charge

by Will | Apr 2, 2024 | Personal Tax, Planning, Strategy, TAX

Approximately 180,000 families are encouraged to reconsider claiming child benefit following changes to the high-income child benefit charge (HICBC), which apply from 6 April 2024, when the thresholds will be increased. You may have to pay the HICBC if you are...

March year end approaching?

by Will | Mar 5, 2024 | Accounting, Business support, Personal Tax, Planning, Strategy, TAX

Tax planning in arrears when the accounting date has passed is severely limited; please consider the opportunities that arise within the accounting period. There are many areas to consider, which can impact both your business and personal circumstances.  A few of the...