The short answer to the question is yes, but only in certain circumstances. Generally, a small or large limited company can pay its directors a salary, but it must be paid net of Income Tax and National Insurance contributions.

EMI is a government scheme that allows you to offer your team share options in a very tax-efficient way. And, the nature of the scheme makes EMIs a powerful incentive that motivates employees to add value to the business.

In an earlier article we compared the benefits of setting up a limited company with those of remaining a sole trader. Here, we consider the advantages and disadvantages of setting up a public limited company (PLC).

The Chancellor of the Exchequer, Rishi Sunak, announced in his Budget that this autumn would begin the preparation work for a new, post-pandemic economy. In his statement to the House of Commons, Sunak announced that he is, “Backing business. Because our future cannot be built by government alone, but must come from the imagination and drive of our entrepreneurs.” Here are the key announcements for small businesses.

If you’re a contractor in the construction industry, you need to be aware of your obligations under the Government’s Construction Industry Scheme (CIS). Essentially, this is a scheme similar to PAYE that requires contractors to withhold 20 or 30 percent of any payment due to a subcontractor and pay the deduction to HMRC.

In this article, we look at the requirements for working from home or running a business from home from both perspectives – tenant and landlord. We also set out the expenses anyone working or running a business from home can claim against their income tax assessment.

You’re probably familiar with the popular phrases ‘cash is king’ and ‘cash is the lifeblood of every business’, but how can you make that a positive reality for your business?

In this guide, we’ll explain how crowdfunding works, its benefits compared to other methods of financing and the factors that determine a successful crowdfunding program. We’ll also outline the services available from the best crowdfunding sites in the UK.

In this brief guide, we’ll explain more about the recognised methods for taking money out of a business account for personal use, and provide guidelines for dealing with business payments for personal expenses.

As business owners, bookkeeping and accounting can often be the part of the role we dread the most – and terms like trade debtors and trade receivables certainly don’t help. The fact is, to all intents and purposes, many organisations out there can treat the two terms as one and the same.

The Spring Budget recognised that the impact of COVID on small business is not yet over. Various support schemes and loans for businesses and the self-employed continue, but, at the same time, the Chancellor has begun to claw back some of the costs of that support with an announcement of future tax rises.

Ever wondered what statutory accounts are, and why you need to file them? What should even be in the accounts? Here's our short guide on everything you need to know about statutory accounts.

As coronavirus continues to spread fuelled by the new variant, the Chancellor has extended key schemes to support businesses and employees through to spring, when the Government hopes the twin vaccines will begin to slow the pandemic.

In what will signal a blow for many struggling businesses, HMRC has said it will not be waiving late filing penalties or extending the set January 31st deadline. However, there's slightly better news if you've been affected by the pandemic. HMRC has also said it will consider cases where COVID-19-related problems cause delays. Businesses will also get more time to appeal against penalty decisions.

The most straightforward way to answer the question “What is Invoice Finance?” is to say it’s booming. There are several primary reasons for that, and during the past couple of decades, some key events have changed the way small to medium-sized businesses are borrowing.

On 22nd October 2020, the Chancellor announced a series of changes to the Job Support Scheme, intended to replace the furlough scheme as part of the Government’s Winter Economy Plan.

The Government has introduced a number of schemes to enable small and medium businesses to continue trading during the pandemic crisis – BBLS, the Bounce Back Loan Scheme and CBILS, the Coronavirus Business Interruption Loan Scheme.

On 24th September, after weeks of speculation, the Chancellor announced the successor to the furlough scheme as part of a Winter Economy Plan. The ‘Job Support Scheme’ will come into effect on November 1st and will cover a six-month period. Here are the key elements of the new scheme, as well as a guide for employers on what to do now furlough is ending.