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	<title>HRBS.biz &#124; Fixed Fee Accountants &#124; Free Guides &#124; Save Tax &#124; VAT Advice &#124; Self Employment Help &#187; Company formation | Salary | p11d | p60 | p45 | Cut tax bill | National Insurance</title>
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	<link>http://tips.hrbs.biz</link>
	<description>Tips and hints for new and growing businesses from HRBS ~ fixed fee pro-active accountants and business advisors</description>
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		<item>
		<title>Charge rent for use of your home office</title>
		<link>http://tips.hrbs.biz/limited-company/charge-rent-for-use-of-your-home-office/</link>
		<comments>http://tips.hrbs.biz/limited-company/charge-rent-for-use-of-your-home-office/#comments</comments>
		<pubDate>Thu, 10 Sep 2009 16:44:19 +0000</pubDate>
		<dc:creator>Keith</dc:creator>
				<category><![CDATA[Limited Company]]></category>
		<category><![CDATA[corporation tax]]></category>
		<category><![CDATA[director]]></category>
		<category><![CDATA[home office]]></category>
		<category><![CDATA[rent]]></category>
		<category><![CDATA[Tax Planning]]></category>

		<guid isPermaLink="false">http://tips.hrbs.biz/?p=386</guid>
		<description><![CDATA[As a company director you can charge your company a rent for using a room in your home as an office.
The rent that you charge is in respect of the reimbursement of costs incurred.  This way the rental income and costs on your tax return will be equal which means that there would be no personal tax due. However, the company would have received a tax deduction for the rent and you would have received a contribution towards your costs.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Save Tax and National Insurance with your limited company</title>
		<link>http://tips.hrbs.biz/limited-company/save-tax-and-national-insurance-with-your-limited-company/</link>
		<comments>http://tips.hrbs.biz/limited-company/save-tax-and-national-insurance-with-your-limited-company/#comments</comments>
		<pubDate>Fri, 11 Jul 2008 11:42:37 +0000</pubDate>
		<dc:creator>Keith</dc:creator>
				<category><![CDATA[Limited Company]]></category>
		<category><![CDATA[dividend]]></category>
		<category><![CDATA[employer]]></category>
		<category><![CDATA[National Insurance]]></category>
		<category><![CDATA[PAYE]]></category>
		<category><![CDATA[Payroll]]></category>
		<category><![CDATA[Tax]]></category>

		<guid isPermaLink="false">http://tips.hrbs.biz/?p=31</guid>
		<description><![CDATA[It is possible to reduce your (UK) personal tax and national insurance by running your business via a limited company.  The amount 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.
<a title="Calculate how you can reduce tax and national insurance" href="http://hrbs.biz/id?313" target="_blank">Download our free excel spreadsheet</a> to calculate how much tax and National Insurance you could save by running your business via a limited company. The spreadsheet uses the 2011/12 tax and National Insurance rates to help you plan your tax situation for the next tax year.

]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Claim a tax refund for your failed company</title>
		<link>http://tips.hrbs.biz/limited-company/claim-a-tax-refund-for-your-failed-company/</link>
		<comments>http://tips.hrbs.biz/limited-company/claim-a-tax-refund-for-your-failed-company/#comments</comments>
		<pubDate>Sat, 09 Feb 2008 23:00:02 +0000</pubDate>
		<dc:creator>Keith</dc:creator>
				<category><![CDATA[Limited Company]]></category>
		<category><![CDATA[capital loss]]></category>
		<category><![CDATA[negligible value claim]]></category>
		<category><![CDATA[shares]]></category>
		<category><![CDATA[tax claim]]></category>
		<category><![CDATA[Tax Planning]]></category>
		<category><![CDATA[tax refund]]></category>
		<category><![CDATA[worthless company]]></category>

		<guid isPermaLink="false">http://tips.hrbs.biz/index.php/limited-company/claim-a-tax-refund-for-your-failed-company/</guid>
		<description><![CDATA[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 [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>How to form a limited company</title>
		<link>http://tips.hrbs.biz/limited-company/how-to-form-a-limited-company/</link>
		<comments>http://tips.hrbs.biz/limited-company/how-to-form-a-limited-company/#comments</comments>
		<pubDate>Wed, 31 Oct 2007 23:00:37 +0000</pubDate>
		<dc:creator>Keith</dc:creator>
				<category><![CDATA[Limited Company]]></category>
		<category><![CDATA[Companies House]]></category>
		<category><![CDATA[company formation]]></category>
		<category><![CDATA[company secretary]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[National Insurance]]></category>
		<category><![CDATA[new limited company]]></category>
		<category><![CDATA[shares]]></category>
		<category><![CDATA[Starting a business]]></category>
		<category><![CDATA[Tax]]></category>

		<guid isPermaLink="false">http://tips.hrbs.biz/index.php/2007/07/05/how-to-form-a-limited-company/</guid>
		<description><![CDATA[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 (separate 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.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Cut red tape &#8230; get a P11d dispensation</title>
		<link>http://tips.hrbs.biz/limited-company/p11d-dispensation/</link>
		<comments>http://tips.hrbs.biz/limited-company/p11d-dispensation/#comments</comments>
		<pubDate>Fri, 31 Aug 2007 23:00:29 +0000</pubDate>
		<dc:creator>Keith</dc:creator>
				<category><![CDATA[Limited Company]]></category>
		<category><![CDATA[directors]]></category>
		<category><![CDATA[dispensation]]></category>
		<category><![CDATA[expenses]]></category>
		<category><![CDATA[p11d]]></category>
		<category><![CDATA[PAYE]]></category>
		<category><![CDATA[Payroll]]></category>
		<category><![CDATA[Running Your Business]]></category>
		<category><![CDATA[travel]]></category>

		<guid isPermaLink="false">http://tips.hrbs.biz/index.php/limited-company/p11d-dispensation/</guid>
		<description><![CDATA[For those of you who are one-person limited companies and/or have employees, you may be aware that reimbursements of expenses (excluding mileage within approved rates) should be reported to the Inland Revenue on P9d or P11d and included within the claimant&#8217;s tax return. This can add quite a burden onto the company&#8217;s administration and also [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>How to dissolve your limited company from £10.00</title>
		<link>http://tips.hrbs.biz/limited-company/how-to-dissolve-your-limited-company/</link>
		<comments>http://tips.hrbs.biz/limited-company/how-to-dissolve-your-limited-company/#comments</comments>
		<pubDate>Tue, 31 Jul 2007 23:00:52 +0000</pubDate>
		<dc:creator>Keith</dc:creator>
				<category><![CDATA[Limited Company]]></category>
		<category><![CDATA[director]]></category>
		<category><![CDATA[dissolve company]]></category>
		<category><![CDATA[S652]]></category>
		<category><![CDATA[strike off company]]></category>

		<guid isPermaLink="false">http://tips.hrbs.biz/index.php/limited-company/how-to-dissolve-your-limited-company/</guid>
		<description><![CDATA[If your limited company is no longer required, for example if the company was set up for a specific project which has now finished, you can apply to have it struck off from the register at Companies House.

<strong>This brief guide relates to striking off formerly trading companies which have now stopped trading and are no longer required. It does not refer to a formal insolvency process.</strong>]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Maximise use of your basic rate tax band</title>
		<link>http://tips.hrbs.biz/limited-company/maximise-use-of-your-basic-rate-tax-band/</link>
		<comments>http://tips.hrbs.biz/limited-company/maximise-use-of-your-basic-rate-tax-band/#comments</comments>
		<pubDate>Wed, 11 Jul 2007 23:00:51 +0000</pubDate>
		<dc:creator>Keith</dc:creator>
				<category><![CDATA[Limited Company]]></category>
		<category><![CDATA[Tax Saving]]></category>
		<category><![CDATA[basic rate tax]]></category>
		<category><![CDATA[corporation tax]]></category>
		<category><![CDATA[director]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[profit]]></category>
		<category><![CDATA[shareholder]]></category>
		<category><![CDATA[Tax Planning]]></category>
		<category><![CDATA[tax voucher]]></category>
		<category><![CDATA[taxable profit]]></category>

		<guid isPermaLink="false">http://tips.hrbs.biz/index.php/limited-company/maximise-use-of-your-basic-rate-tax-band/</guid>
		<description><![CDATA[We recommend to all our clients that they maximise the use of their basic rate band. This can be done by declaring interim dividends to take total taxable income upto the maximum at which the basic rate will still apply.

As dividends have a 10% tax credit attached, this tax credit can be used to effectively pay your personal tax liability on the dividend.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A quick guide for your new limited company</title>
		<link>http://tips.hrbs.biz/limited-company/a-quick-guide-for-your-new-limited-company/</link>
		<comments>http://tips.hrbs.biz/limited-company/a-quick-guide-for-your-new-limited-company/#comments</comments>
		<pubDate>Wed, 04 Jul 2007 23:00:45 +0000</pubDate>
		<dc:creator>Keith</dc:creator>
				<category><![CDATA[Limited Company]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[expenses]]></category>
		<category><![CDATA[National Insurance]]></category>
		<category><![CDATA[PAYE]]></category>
		<category><![CDATA[Tax]]></category>
		<category><![CDATA[wages]]></category>

		<guid isPermaLink="false">http://tips.hrbs.biz/index.php/2007/07/05/a-quick-guide-for-your-new-limited-company/</guid>
		<description><![CDATA[<strong>Getting at your profits</strong>

Profit extraction can be a mix of wage (ie under PAYE) and dividend. In order to pay a dividend the company must have sufficient after tax profits. ie for a £10k dividend to be paid the company must have approx £12.7k pre tax profits (corp tax rate of 21%). Do not be tempted to withdraw more than this as dividend, as it would be "illegal" and HMRC may class it as a salary or a loan to the director (taxable benefit in kind if over £5k) and charge tax &#38; NIC. ]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Loans to directors &#8211; form p11d</title>
		<link>http://tips.hrbs.biz/limited-company/loans-to-directors-form-p11d/</link>
		<comments>http://tips.hrbs.biz/limited-company/loans-to-directors-form-p11d/#comments</comments>
		<pubDate>Thu, 31 May 2007 23:00:15 +0000</pubDate>
		<dc:creator>Keith</dc:creator>
				<category><![CDATA[Limited Company]]></category>
		<category><![CDATA[directors]]></category>
		<category><![CDATA[HMRC]]></category>
		<category><![CDATA[loans]]></category>
		<category><![CDATA[p11d]]></category>
		<category><![CDATA[Tax]]></category>

		<guid isPermaLink="false">http://tips.hrbs.biz/index.php/2007/07/05/loans-to-directors-form-p11d/</guid>
		<description><![CDATA[It is illegal under current company law for companies to make loans to its directors unless it is an advance to pay company expenses. The loan must also be approved by the shareholders and repaid within 6 months. HMRC consider loans to directors as benefits in kind and the interest chargeable at the HMRC standard rate is taxable and must be reported on form P11d by 6th July. Fines are chargeable by HMRC if the forms are not recived by 19th July.

However, if the loan is below £5000, then under current HMRC rules, no benefit in kind applies.]]></description>
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		<slash:comments>0</slash:comments>
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