A registered office address is essential for sending documents to Companies House. You must provide one if you are applying to start a limited company. Your registered office address isn’t always your business address. It could be somewhere else entirely. In fact, it might even be someone else’s home. If you don’t have a UK…

Registering for a personal tax return account will help you keep your National Insurance number safe. You can log into your personal tax account to find out what your National Insurance number is, how much you owe in taxes, and where to pay your bill. Your National Insurance number is important, so don’t lose it!…

An accountant works closely with other professionals, such as lawyers, auditors, bookkeepers, and others. He prepares reports and provides advice about how to manage financial matters better. An accountant advises businesses on ways to improve profitability, and he helps clients set up tax returns. Accountants are required to hold an accounting degree. Many employers prefer…

HM Revenue & Customs (HMRC) is investigating some businesses over unpaid taxes. If you think you might be one of those businesses, it pays to understand what happens next. Here’s everything you need to know about how HMRC investigates businesses. What does HMRC do? HMRC looks into unpaid taxes owed to UK authorities. This includes…

A company can be dormant for several reasons. For example, it could be inactive due to insolvency, bankruptcy, liquidation, etc. In such cases, there is nothing much you can do about it. However, there is another type of dormancy called ‘inactive’ or ‘passive’, where a company carries out no business activities. This does not mean…

What is a director? A director is someone who oversees a company. They are normally appointed by the shareholders or ownership of the company. The directors are responsible for making sure the company runs smoothly. Usually, directors are seen as the face of the company. This is because they are the ones who make decisions…

Contractors and subcontractors The government has announced it will require contractors and subcontractors to register annually with HM Revenue & Customs (HMRC). This follows the introduction of a new law requiring companies to report payments to overseas workers via the Government Gateway system. Under the Construction Industry Scheme Regulations 2018, contractors and subcontractors must register…

When a shareholder or director dies there are a number of issues that arise. These range from the appointment of an Administrator, to dealing with the deceased person’s estate and any liabilities associated with it. In terms of succession, the death of a shareholder or director triggers a process known as “succession”. This involves the…

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If you are self-employed, you can claim certain expenses against your profits, including those relating specifically to running a business. You can also claim some expenses against your profits that aren’t directly related to running a business. For example, you might claim expenses such as rent, mortgage interest, petrol costs, insurance premiums, repair and maintenance,…