As an employer, you will have to operate PAYE as part of your payroll, which is the system HMRC use to collect Income Tax and National Insurances from employment.
This is an increasingly complex area, and one of the most frequently outsourced areas because of this.
|02 Corporation Tax
Limited companies file and pay their taxes under the Corporation Tax system which differs from that for sole-traders, partnerships’ and LLP’s. Many of the rules differ between Income Tax and Corporation Tax.
You will need to register for VAT if your taxable turnover in ANY consecutive 12 month period reached the registration limit. In some circumstances you may wish to register voluntarily before your business reached the compulsory limit.
Bookkeeping is the day to day organisation of your financial information. Keeping this organised and up to date simplifies the year end accounts process, aids management reporting and analysis and leads to cost savings or further revenue generation.
How can The Tax Café help?
Get in touch for an initial free chat. The coffee’s on us!
Take a browse through the site and then get in touch to set up your free session to see how we can help you best.
Using the Tax Café as your go to business support advisor means you will benefit from having up to date, accurate financial information at hand, no matter what the need is.
With a dedicated business support manager you will always have someone at hand to help you track, analyse and understand the financial performance of your business and help you plan and budget for the future.
We can assist across many areas of the business from outsourced Payroll, vat and bookkeeping services, to business advisory work and reviewing your current systems to identify potential areas for improvement or increased efficiency. Check through some of other services to see how we can assist.