If you trade through a limited company, it is fairly likely that you will need to take money out of the company for your own personal use. However, the methods for doing this can be confusing, and is almost always discussed when I have meetings with directors of new limited companies. In addition to salaries, …
One of the first major decisions you will have to make as you start your new business is the form of legal entity it will take. To a large degree this decision may be dictated by the way you have organised your operations and whether you intend to work on your own or in conjunction …
We recently had a visit from a company director who was out of his depth. The company had been formed (and effectively run) by his father, who had produced accounts. Unfortunately they had not been filed with Companies House (nor had the annual return), and were 10 months late, attracting a penalty of £1,500. There …