A director or shareholder of a limited company must agree before you can wind up the company. You do this by signing the articles of association. Once you have signed the articles, you are legally bound to carry out the tasks set out in the articles. If you don’t sign the articles, you won’t be…
Eligibility The government says it wants to help people struggling financially during the coronavirus pandemic. But some experts say there are many ways to qualify for the Working Tax Credit, including earning too much money. You must earn less than £3,400 ($4,300) per month in gross salary to be eligible for Working Tax Credit. If…
What is National Insurance? National insurance contributions are compulsory payments paid by everyone who earns money, regardless of age. They help fund the NHS and social care system. Students don’t have to pay NI contributions until they reach 18. This is because students are considered self-employed and therefore do not have to contribute towards social…
The construction industry scheme, known as the Construction Industry Scheme (CIS), allows eligible contractors to claim a tax rebate based on the value of work carried out over a period of up to three years. This includes building extensions, refurbishments and maintenance works. There are many different types of qualifying work, including public sector projects…
A CIS monthly return is an essential document for companies operating within the construction industry. This form must be filed every month and it allows contractors to report their income and expenses over a period of one calendar year. Contractors must complete a CIS monthly return even if they do not receive money from the…
A company name must be distinctive and memorable. This is why it is important to choose one that does not infringe someone else’s intellectual property rights. If you are considering registering a trade mark, make sure that the name you use is different from those already registered. If you want to start trading under your…
Putting Together a Successful Team When you are hiring someone, there are many things to consider. You want to make sure you hire the best person for the job, but you also don’t want to spend too much money doing it. Hiring the wrong people can cost you both time and money. The most important…
How tax self assessment works Self assessment tax returns are available via HMRC’s online services. They’re free to file and there’s no deadline. You just need to make sure you complete the form correctly. If you don’t, it could cost you up to £1,000. The annual tax return must include information about your income and…
1. Franchising advantages Franchisees usually start out small and build their way up. They take advantage of economies of scale, buying supplies and equipment in bulk, hiring experts to help them run their businesses efficiently, and leveraging their brand name to attract customers. A franchisor typically provides marketing support, training, product development, and operational assistance…
Business insurance covers many things, including staff injuries, property damage and legal fees. But most small businesses don’t have enough coverage for their workers. And even if they do, it doesn’t cover everything. A good policy will help you recoup costs if something goes wrong. Here are three types of business protection that every business…