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With the new tax year underway, I am excited to share some articles and webinar content that will help you continue to make informed financial choices. With every interaction you have with us we hope you are aware that your feedback is essential to give you the best service and product.We want to take that a step further with our roadmap. Your insights matter! Please share your thoughts on our latest-poll so we know what challenges you face. Not forgetting our amazing offers to ensure you have the best services for your business and one of them is a reward for those who get their filing done early :)
What’s in May’s newsletter?
What is a director's loan account, and what are the tax implications?
Understanding Director’s Loan Accounts (DLAs) is crucial for running a limited company. DLA's track money directors withdraw that's not salary, dividends, or expense repayments, and overdrawn accounts can incur hefty taxes.Compliance with HMRC rules is essential to avoid penalties like the Section 455 Charge. Avoid tactics like 'bed and breakfasting' to dodge taxes, as HMRC monitors these closely. For a detailed breakdown read our full article.
Can a Sole Trader Employ Staff?
Running a small business as a sole trader is exciting and challenging, especially when hiring staff. Sole traders can employ staff without forming a limited company by registering as an employer with HMRC, creating employment contracts, and adhering to minimum wage laws.Practical considerations include the costs of employing staff, recruitment, training, and building a strong team culture. For detailed guidance on legal and practical steps, read the full article.
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We've Added New Open Banking Feeds
We’re excited to share that as of last week, we now support Mettle, Cashplus, and Royal Bank of Scotland bank feeds!These are for both business and personal accounts (personal only for sole traders).
Early Bird Special: 50% Off Self Assessment Filing! Act Now!
You’ve got until the 31st of January 2025 to submit your tax return and pay any tax that is due, but why wait?
We've got an early bird offer on our Self Assessment service?File your 2023/24 tax year Self Assessment for just ￡100 +VAT with our 50% discount offer - for a limited time only.
Accounting Essentials for E-commerce Success
Last week we had the follow-up to our amazingly successful first webinar.
Thank you to all who attended and don’t worry if you missed it. We've shared the video below.
What we covered:
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Content is for general information only. Always take advice. Read our full disclaimer here.
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