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Limited Company (Ltd) Set up & Register a Business in the UK

Limited Company (Ltd): Set up & Register a Business in the UK

Limited Company by Shares Limited company means the business is a separate legal entity, has separate finances. Limited company by shares, means the company has shares and shareholders, can keep any profits it makes after paying tax. If you run business as a private limited company (Ltd), means you are a shareholder; you...

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Sole Trader Set up & Register a Business in the UK

Sole Trader: Set up & Register a Business in the UK

Sole Trader Sole Trader means you run your own business as an individual. If you start working for yourself, you’re classed as a sole trader. This means you’re self-employed – even if you haven’t yet told HM Revenue and Customs (HMRC). You can keep all your business’s profits after you’ve paid tax on...

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HMRC Business Tax and Registration

HMRC: Business Tax and Registration

Once you have registered a business, you might need register for certain business tax. Corporation Tax If you run your business as a limited company, you must pay Corporation Tax on profits from doing business. You will need to register with HMRC for Corporation Tax service within 3 months of starting to do...

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10 Key advantages to have a Limited Company (Ltd) vs Sole Trader

10 Key advantages to have a Limited Company (Ltd) vs Sole Trader

Starting up as a sole trader is without doubt the simplest way to start a business in the UK. All you need to do is inform HMRC that you are working as self-employed, and report your business activities through the annual self assessment tax return. Setting up in business as a LTD involves...

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VAT Do I Have to Register Business for VAT

VAT: Do I Have to Register Business for VAT

VAT is one of the things all businesses need to be aware of. It’s important, for example, to understand what the VAT threshold is and when you need to register for VAT. It’s also important to consider what benefits you might get from registering even if you are below the threshold. Also you...

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National Insurance What I am Paying for

National Insurance: What I am Paying for

National Insurance (NI) in the United Kingdom is a system of contributions paid by workers and employers to qualify for certain benefits. The national insurance scheme is administered by HM Revenue and Customs (HMRC). National Insurance Number A national insurance number (NINO) is a number unique to you which is used to keep...

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Bookkeeping How to Minimise a Headache

Bookkeeping: How to Minimise a Headache

As a business owner and company director, running a business could be frustrating. For lots of business owners, bookkeeping is a nightmare. Whatever your size of business, you should be routinely receiving data about your numbers and analyse it accurately to understand the flow of money through your business. Bookkeeping and keeping good...

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Employer What Need to Know about Workplace Pension

Employer: What Need to Know about Workplace Pension

As a result of Automatic Enrolment, millions of people now have a workplace pension. Find out how this affects your business. Under the Pensions Act 2008, every employer in the UK must put certain staff into a pension scheme and contribute towards it. This is called ‘automatic enrolment’. If you employ at least...

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7 Steps How to Start an Online Business

7 Steps How to Start an Online Business

More people are online than ever before and asking questions that you might have the answers to or looking for product that you might offer. Therefore there’s never been a better time to start an online business than right now. There are many reasons why people are starting an online business such as:...

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Tax Return Who Needs to Complete a Self Assessment

Tax Return: Who Needs to Complete a Self Assessment

The tax year in UK is from 6 April to 5 April the following year. Self Assessment is a system HM Revenue and Customs (HMRC) uses to collect Income Tax. Tax is usually deducted automatically from wages, pensions and savings. People and businesses with other income must report it in a tax return....

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12 Tips to Improve a Business Cash Flow

12 Tips to Improve a Business Cash Flow

One of the reasons why business fails is a poor cash flow management. Effectively managing cash flow is vital to the running of your business.Even if your company is currently profitable, it is still at risk for negative cash flow as at any time your business can be hit with cash flow problems...

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8 Alternative Ways to Fund a Business

8 Alternative Ways to Fund a Business

Thousands of business owners are looking for alternative sources to raise finance for starting or growing their business.If you’re one of them, in this article you will find main ways to fund your business without a bank loan. 1. Family loan Relatives and loved ones are more likely to trust you with their...

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