Companies House will send all correspondence relating to your company to the registered office address. You’ll receive an email confirming receipt of your request. If you’ve already applied for a Company Number, you won’t receive another reminder. Paper forms are easier to fill in than online ones. They’re cheaper too. Companies House charges £30 for…
Corporation tax is charged on profits earned by companies. There are many ways to reduce the amount you pay in corporation tax. You might want to look into some of them. Which businesses must pay corporation tax? Limited companies must pay corporation tax regardless of where they are based. This includes companies incorporated in the…
Being self-employed comes with its unique set of rules and regulations. You must register as self-employed if you want to receive certain tax breaks, such as claiming health insurance premiums as income. But there are pros and cons to being self-employed. Here are some things to consider before deciding whether or not it makes sense…
National Insurance is a compulsory payment paid by both employers and employees. Employers pay NI contributions based on your salaries and hours worked. Employees pay NI contributions based on how much they earn. You must pay NI contributions if you earn over £10,600 per annum. If you don’t pay NI contributions, you’ll face fines. The…
HM Revenue & Customs issues unique reference numbers to individuals registering for an online self assessment income tax return. These are known as UTR numbers. You must use one of these numbers when filing each tax return. If you don’t, HMRC will send you a letter telling you to do it. The number is usually…
Find out what your tax code number is from your payslip or online. If you are still unsure how to find it, call HM Revenue & Customs (HMRC). Google Inc.’s UK subsidiary does not charge customers for filing their taxes. However, there is a cost involved in providing the service. For example, Google charges £6…
Small businesses often struggle to balance their books and make sure everything adds up correctly. If you are one of those businesses, you might want to consider hiring an accountant. However, there are some things you should know about accountants before you decide whether or not you need one. First, what exactly does an accountant…
If you are a migrant worker, you must obtain a National Insurance Number (NINO) before applying for benefits such as housing benefit, income support or jobseeker’s allowance. If you claim benefits, you must provide proof of your NINO. This includes submitting it with your application form. What happens if you lose or misplace your NINO?…
Working Tax Credit (WTC) is one of the UK Government’s flagship welfare reforms. It aims to make sure that everyone pays a fair amount of taxes, regardless of how much money they earn. If you’re employed, you’ll probably know all about it already. But what about those who are self-employed? What does WTC mean for…
If you’re self-employed and only ever work for one company, there might be some benefits to being treated like an employee rather than a freelancer. This includes things such as getting paid sick pay and holiday entitlement. However, it also opens up questions about how much income tax you owe and where you fall within…