Smarter accounting

Declare your dividends

Declare your dividends

24 March 2022, Advocates, Artists, Barristers, Companies, Creative Industries, Employer, Musicians, Sole Traders

The Spring Statement 2022 confirmed increases to National Insurance from the tax year starting 6th April 2022.  The threshold for paying National Insurance increases to £12,570 from July, but this doesn’t affect the additional tax on dividends.  The difference in the payment date of your dividends by just one day could mean that you pay […]

Health and Social Care Levy

Health and Social Care Levy – Finance (No. 2) Bill

18 November 2021, Advocates, Artists, Barristers, Companies, Creative Industries, Employer, Musicians, Sole Traders

The budget confirmed a few increases to tax which are likely to stoke inflation in the form of the Health and Social Care Levy.  The Finance Bill is currently passing through the legislative process to introduce tax increases for most people. How does the budget affect my business? The figure of 1.25% crops up in […]

Tax charge on a director's loan

Tax charge on a Director’s Loan

20 September 2019, Companies, General

When your company has a tax charge on a director’s loan If you are a director or shareholder in a ‘close’ company, any money owed to the company can trigger a tax charge on a director’s loan. What is a close company? A close company is broadly defined as a company which is under the […]

Executive Income Protection

15 February 2015, Charities, Companies, Employer

Who pays the piper? For those individuals working for large organisations benefits such as death in service cover and long term sick pay are taken for granted.  As a business owner what are the consequences if you are unable to work?  Whilst an employee may have 6 months full pay and 6 months half pay, […]

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