How to Correctly set up a Limited Company in the UK If you’re setting up a business in the UK, it is a wise move to run your business as a limited company. Setting your business up as a limited company means it is recognised as a legal entity. In other words, it is legally […]
When starting a small business, you already have a long list of things to take care of – but somewhere near the top of this list should be finding an accountant. Finding the correct accountant for your small business is essential to your success – choose the wrong one and your business and profit margins […]
Payroll is an essential part of your business; as well as issuing regular paychecks legally and on time to your employees, payroll is also responsible for handling payroll tax and deductions like benefits and pension payments and withholding taxes, such as for National Insurance. If your payroll department falls short or makes a mistake it […]
BNA Consulting recommends that you should register as both if you fall under both categories. This ensures you are safely covered and are ensured the best rate. If a subcontractor doesn’t register for the scheme, contractors must deduct 30% from your payments to put towards your tax and National Insurance rather than just 20% with […]