Home » Archive

Articles tagged with: profit

migrated »

[8 Apr 2016 | Comments Off on Director shareholder payments 2016/17 | ]
Director shareholder payments 2016/17

This article has moved here.

migrated »

[3 Aug 2013 | No Comment | ]
Keeping proper business records

This article has moved here.

one offs »

[2 Feb 2011 | No Comment | ]

You need a payroll account with HMRC in order to make remittances of tax and national insurance (even if the amounts are NIL). For historic reasons this account is called a “scheme” and it has two different reference numbers, one for the Inspector of Taxes (a PAYE ref) and a different one for the Collector of Taxes (the Accounts Office ref). We need both numbers!

At some point in the next 10 days, you should receive a letter (like the one above) from the tax office which gives you the two …

migrated »

[24 Jun 2010 | No Comment | ]

This article has moved here.

getting things done »

[5 Mar 2010 | One Comment | ]

This is a fantastic question and we hear it quite often “I have too much profit, what can I do about it?”
It is however a coded version of something else, and it can mean either:

I don’t have enough profit. I know that, because I have drawn all the money out of my business and I have nothing left to pay my tax bill.
I have ridiculously large sums of money floating around, even after paying my tax bills, and I’m in danger of taking up a ridiculously expensive hobby!

Depending on which …