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Company Voluntary Arrangement (CVA) Since the 2002 Enterprise Act there are two main ways of saving all or part of a company that is suffering financial difficulties. These are either Administration or a Company Voluntary Arrangement. Under a Company Voluntary Arrangement, the directors can make a proposal to the company’s creditors to allow the companyRead more

Administration Since the 2002 Enterprise Act there are two main ways of saving all or part of a company that is suffering financial difficulties. These are either Administration or CVA. The main purposes of administration are: To rescue the company as a going concern (this describes a company that can continue operation without the threatRead more

STAMP DUTY LAND TAX Are you a first-time property buyer or have no idea about stamp duty land tax? This is a fact of life for any property buyer and this article will unearth everything about stamp duty and make it known to you. What is stamp duty? Stamp duty land tax (SDLT) is theRead more

What are the responsibilities of a Director? When you decide to incorporate your company, you may be interested in becoming a director of that company. If you do then you will take on a number of new responsibilities in your new role. Legally, the responsibilities of a director are framed in three ways. These are:Read more

The whole idea of Umbrella Company has been in existence since middle 2000. Before then most contractors and freelancers used to work under recruitment agencies or their own limited company. So, what is an umbrella company? An umbrella company is a standardised UK limited company operated by an employer (third party) on behalf of freelancerRead more

IR35 (The Intermediaries Legislation) was introduced in 2000 to fight against tax avoidance by making use of personal service companies. This tax law had the target to bring an end to the differences in the treatment of tax for the workers who were included in the payroll. The real picture made it clear that theRead more

WHAT IS SEIS? This is a scheme launched by the UK government to encourage investors to set up small and early stage companies. It was introduced on 6th April 2012 as a way of enticing taxpayers to invest in early stage and small business. The Seed enterprise investment schemes (SEIS), differs from the Enterprise InvestmentRead more

Enterprise Investment Scheme The Enterprise Investment Scheme (EIS) is a series of UK tax reliefs designed to help smaller higher-risk trading companies to raise finance. The EIS differs from the Seed Enterprise Investment Scheme (SEIS) and offers both income tax and capital gains tax reliefs to investors who purchase new shares in qualifying companies. InvestingRead more

Incorporating a Company There are three legal structures of starting a business that are recognised in the UK; sole trader, partnership, and a limited company. Whichever structure you select, it’s always wise to go for the one that suits you best because it might predetermine the success of your business. Here we briefly outline theRead more

PAYE FORMS The Pay as you earn (PAYE) system is a way used by the pension provider or employer to calculate and deduct income tax & NI (national insurance) contributions. PAYE deductions are made before a salary or wage is paid to an employee. The pension provider or employer is aided by a tax codeRead more