Charge rent for use of your home office
As a limited company company director you can charge your company a rent for using a room in your home as an office. We recommend that you have a rental agreement in place between you and the company and we have made available a selection of agreements available for free download here at tips.HRBS.biz , choose rar files (rar file) or zip files.
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Popularity: 32%
Save Tax and National Insurance with your limited company
It is possible to reduce your (UK) personal tax and national insurance by running your business via a limited company.
The amount of tax and NI you can save will depend upon several factors including the company’s profitability, your personal circumstances and the amount of funds you wish to withdraw from the business.
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Popularity: 28%
Claim a tax refund for your failed company
Has your limited company hit hard times?
It is a sad fact of business that many companies fail and the owner/directors lose the money invested in the shares and loans made to the company. The shares in the company become worthless i.e. have negligible value and the owner has made a, sometimes substantial, loss.
Make a negligible value claim
If you are in this situation, you can make a claim to offset the loss against your other income. If you are a higher rate tax payer or have been in recent years, you may receive a tax refund of upto 40% of the loss.
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Popularity: 17%
How to form a limited company
Many businesses are making the change from being a sole trader to limited company to take advantage of the limited liability and also the opportunity for tax planning.
(Click here for the “How to save tax and National Insurance” article).
Suppliers and customers often prefer to deal with a limited company as it can imply stability, longevity and also the company’s accounts and details of directors are in the public domain. This makes it easier for credit reference agencies and debt insurance providers to recommend credit limits. Unfortunately your competitors can find out about your company’s performance, ownership and mortgages etc at Companies House from only £1!
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Popularity: 11%
