Corporate Governance & Regulation Articles

Types of limited companies

A Llimited company is a company ‘limited by shares’ or ‘limited by guarantee’. Limited by shares The most common LTD structure involves a limited by shares company, which shareholders own as a separate legal entity. However, directors manage it. In smaller LTD's, shareholders and directors are the same individuals. Directors work as employees of their company, not as self-employed individuals....

Summary of Companies House changes

The Economic Crime and Corporate Transparency Act received royal assent on 26 October 2023. The new Act provides Companies House with more power to reduce abuse of corporate structures while tackling economic crime. As part of introduced measures, Companies House will streamline filing options for small and micro organizations. Currently, small businesses can file accounts referred to as...

Re-starting a dormant company

HMRC must be informed when a non-trading or dormant company starts trading again and thus becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant information.  When a company has previously traded and then ceases to trade it would normally be considered as dormant. A company can stay dormant indefinitely, however, there are costs...

Are you self-employed?

Notify HMRC promptly when self-employed, by October 5 after tax year-end, for timely self-assessment and penalty avoidance. Follow HMRC guidelines...

Cost of living final payment 2023-24

The Cost of Living support package has been designed to help over 8 million households in receipt of means tested...

Beware fake tax rebate offers

HMRC continues to warn of the ever-present problem of fraudulent phishing emails, suspicious phone calls and texts. These unwanted emails,...

Importing or exporting for the first time?

When engaging in international trade, navigating regulations can be overwhelming. Utilize HMRC’s digital assistant on GOV.UK for guidance on EORI...

Top-line, bottom-line?

Monitoring small business finances involves more than tracking sales; it requires assessing costs, creating forecasts, and analyzing balance sheets. Regular...

Autumn Finance Bill 2023 update

The Autumn Finance Bill 2023, officially named Finance Bill 2023-24, introduces tax measures like permanent full expensing and extended reliefs....

What is Class 1A NIC?

Employers pay Class 1A NICs on benefits, subject to Income Tax. Special rules and conditions, including no existing Class 1...

Tax on inherited private pensions

Inheriting private pensions involves grasping tax implications, nominations, and rules, considering the owner’s age and limitations for defined benefit pots....

Eligibility for the VAT Flat Rate Scheme

The VAT Flat Rate scheme is for businesses with an expected turnover below £150,000. It involves a fixed percentage of...
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