Overdrawn Director’s Loan Account: What Directors Need to Know
An overdrawn director’s loan account means a director has taken more money from the company than the company owes them. It can trigger a temporary Corporation Tax charge, a taxable benefit, National I
What Records Should Limited Companies Keep?
Limited companies must keep proper records about the company itself and its financial transactions. Good records support accurate accounts, Corporation Tax returns, VAT returns, payroll, dividends and
Can I Use My Home Address for My Limited Company?
You can usually use your home address as your limited company’s registered office address. However, the address will appear on the public Companies House register, which may not be suitable for every
Should You Register a Limited Company?
Registering a limited company can offer commercial, legal and tax planning advantages, but it is not automatically the right choice for every business. This guide explains when incorporation may make
How Much Tax Does a Limited Company Pay in the UK?
A limited company does not pay one fixed rate of tax. Corporation Tax depends on taxable profit, while VAT, payroll taxes and personal tax on salary or dividends may also apply. This guide explains th
What Happens If Your Company Cannot Pay Its Tax Bill?
A company tax bill can quickly become stressful if the business does not have enough cash available. This guide explains what can happen if your company cannot pay HMRC, why early communication matter