Ensure your annual accounts are prepared
As the director of a limited company you naturally want to remain as tax efficient as possible. At the same time there are various legal requirements which must be met. Compliance protects your company from fines and penalties.
We provide a full service to limited companies including tax return preparation, tax planning advice, bookkeeping, and a registered office address. We do all this while promoting financial efficiency.
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Your questions answered
Is it better to be a sole trader or a limited company?
Generally, there is a tax advantage for businesses operating though a limited company because the rate of Corporation Tax paid by companies is lower than the rate of Income Tax and National Insurance paid by sole traders. However, a limited company comes with various complications which means this option not right for everybody. Our advice will be tailored to your individual situation.
Should I get a company car or not?
It depends on the type of car you are considering. Generally, cars which run on petrol or diesel alone are not worth running though a company; the benefit in kind (BIK) tax is too expensive. Hybrid cars and pure electric cars are very tax-efficient, and therefore might be worth putting though a company.
Should I put my investment property in a limited company?
If you are happy to leave the rental income generated in the company then you might consider this. Otherwise, it doesn’t make sense because rental profits will first be subject to Corporation Tax at 19% then the income must be extracted via salary and/or dividends, which are subject to further tax. Generally a specialist p…read more
Am I affected by IR35?
If you’re a contractor or freelancer operating through a limited company, you might be affected by IR35. The rules on this have changed recently so that it is now the end client (if they are a medium or large sized company) who is responsible for determining the employment status of any contractor. Determining IR35 status …read more
Here to support your business
Working with Tamen Accountants means we bring our experience to your team, adding specialist knowledge making your finances work for your company. Get in touch to find out how we can help you.