There are many factors that go into determining how much money you could potentially make selling your business. These include the amount of work it takes to run the business, the location of the business, the market demand for the product/service, and the competition within the industry. The value of a business varies depending on…
The UK tax year runs for twelve months beginning on the 6th April each year. You must file a self assessment tax return for the previous tax year by the 31st January following the end of the tax period. If you fail to do this, HM Revenue & Customs (HMRC) will send you a reminder…
Check your potential redundancy pay Statutory redundancy pay is calculated according to your length of service and your age. For example, if you’ve been working for 10 years and are 55 years old, you’ll receive £2,500 per month. If you’re under 25 years old, you won’t qualify for it. Contractual redundancy pay is usually agreed…
A shareholder is someone who owns shares in a corporation. They are typically people or organizations. In most cases, majority shareholders hold more than 50% of the voting power of the company. A shareholder owns shares of the corporation. A stockholder holds some sort of ownership interest in the company. An investor is a person…
The following information relates to dividends and other distributions paid or payable by a company to its shareholders. This includes payments such as cash dividends, capital allowances, special dividends, bonus shares, redemption payments, dividend reinvestment plans, and other distributions. This document provides guidance on how distributions are treated for tax purposes. In particular, it explains…
What is Statutory Maternity Pay? Statutory maternity pay is paid in the form salary payments, which are taxable and National Insurance (NI) deductible. These are usually calculated based on the number of hours worked each week. If you work part-time, you might qualify for some or all of the amount. You must tell your employer…
Companies House is responsible for registering most businesses in the United Kingdom. The registers of companies are publicly accessible and include all necessary information about a business including its directors and shareholders, among others. This includes the name of the company, address, contact details, date incorporated, registered office, principal place of business, number of shares,…
CIS Guide A subcontractor must pass all 3 tests before receiving any payment. If a subcontractor does not meet any of the 3 tests, it cannot register with HMT nor claim gross payments. However it can still apply CIS on payments received from the contractor. When a subcontractor subcontracted its work to another party it…
What is a UTR number? This is a ten digit code that is assigned to every UK taxpayer. In fact, it’s one of the most important pieces of information about you that HM Revenue & Customs holds on file. You’ll find out why in our guide to how to complete your tax return online. We’ve…
The Government announced that it will provide £1 billion worth of grants to help households save money on energy bills. There are four different categories of grant available to those living in Band D, E and F areas. These include: • A discretionary grant of up to £500 per property; • An annual allowance of…