Mutuality of Obligation (MOO)
This is one of three traditional pillars (with personal service and master servant control) required to create an employment relationship...
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Welcome to our
Knowledge Base
Help, guidance and useful information about some of the key areas our Accountancy covers
IR35 and Limited Companies
IR35 is the common name for the Intermediaries Legislation, Chapter 8 Part 2 of the Income Tax (Earnings and Pensions) Act 2003 (ITEPA)....
Personal Tax Guidelines
A key benefit of running a limited company is the ability to tailor remuneration packages to suit personal needs, while remaining tax...
Buy-to-let Property
Buy-to-let property in the UK can be owned either by an individual, or by a limited company. Allowable expenses are deducted from rental...
Working Abroad and Foreign Earnings
Earnings originating from outside of the UK may need to be declared on a UK self-assessment personal tax return. This will depend on a...
Business Expenditure
During the course of trade, a company will incur a number of business-related expenses. These costs have the effect of reducing trading...
Accounting Records
Throughout a trading year a company is required to keep financial records on all its transactions. The accounting records must contain...
Company Cars
A company can purchase a company car for its employees to use on business trips as well as for personal use. When purchasing a company...
Corporation Tax
When a UK limited company commences trading or a dormant company restarts trade, it must register for Corporation Tax. Requirements A...
Cryptocurrency
Crypto-currency trading profit is subject to tax in the UK. An individual living in the UK and holding Crypto assets such as bitcoin or...
IR35 Overview
IR35 is a set of tax laws implemented in order to prevent workers, who would have otherwise been considered an employee if they were...
Personal Tax Thresholds
The tax-free personal allowance is £12,570 (this is restricted when income exceeds £100,000). If you receive a salary from your company,...
Construction Industry Scheme (CIS)
Contractors operating in the construction industry, and using subcontractors, are required to register for the Construction Industry...
VAT
VAT (Value Added Tax) is an indirect tax that is added to most products and services sold by VAT registered businesses. Businesses must...
Incorporation and Corporate Actions
Incorporation is the legal process used to form a company. A limited company is a separate legal entity from its owners and recognised...
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