In a private limited company, it is usual for a director to also be a shareholder. Payments made to shareholders are deemed to be income
Plastic packaging tax is a new tax that comes into effect from 1 April 2021. The tax has a green agenda – its aim is
To encourage employers to employ armed forces veterans, a new relief was introduced with effect from 6 April 2021 where an employer took on an
During the covid pandemic HMRC suspended many of their debt collecting activities. However, as the UK emerges and economic activity resumes, HMRC has restarted their
A shareholder/ director is permitted to withdraw monies from the company’s bank account as salary, bonus or dividend (or possibly a loan’). However, there are
The government receives its tax money on different dates depending upon the type of taxcharged. Taxpayers taxed under PAYE usually pay their tax bills monthly;
Throughout an accounting period a director will withdraw monies from the company againstthe director’s loan account (DLA), the withdrawals being satisfied usually by the taking
A limited liability partnership (LLP) is not a partnership but a body corporate with a difference – there are no shareholders or guarantors (as there would be
A limited liability partnership (LLP) is not a partnership but a body corporate with a difference – there are no shareholders or guarantors (as there would be
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