Dormant Companies: what Contractors and freelancers with a UK Limited Company need to know
If you have a Limited Company you may find there are times when you’re not trading but you want to keep your company active, or you may decide to set a company up but not trade straight away. In [...]
Trivial Benefits
If you’re a limited company director, you may find there are times when you want to give a gift from your business to your employees (if you have any), or even to yourself. Based on the gift’s circumstances you [...]
How do Limited Company dividends work?
Understanding how dividends work is key to running your Limited Company tax-efficiently and maximising your overall take-home pay. While it’s always wise to speak with your SG Client Director for tailored advice, having a solid grasp of the basics [...]
What is Making Tax Digital?
Making Tax Digital (MTD) is no longer just a passing comment or consideration of HMRC’s. It’s imminent, and now is the perfect time to ensure we’re all ready. In this blog we explore what MTD actually is, how SG [...]
What do Limited Company directors need to file with HMRC and Companies House throughout the year?
As a director of your Limited Company, you have legal responsibilities such as filing and submitting various forms and returns to Companies House and HMRC throughout the financial year. Failing to do so will result in penalties, fines and [...]
What are the changes for the Employer’s National Insurance rate for 2025/26?
Overview of National Insurance Contributions Back in October 2024, the UK government released the much-anticipated Autumn Budget where they announced a variety of changes affecting UK employers. One of the significant talking points from this was the adjustments to [...]
What are the 2025/26 tax year rates and allowances?
National Insurance & Tax Tax-free personal allowance - £12,570 Basic rate – 20% - up to £37,700 Higher rate – 40% - from £37,701 to £125,140 Additional rate – 45% - above £125,140 [...]
How to maximise your tax efficiency before tax year end 5 April 2025
Allowable expenses Claim all of your allowable expenses Ensure paid invoices have been recorded – chase those you’re still awaiting payment for Keep receipts 6 years after accounting period ISAs Use your ISA allowance £20,000 [...]
Should you close your Limited Company using an MVL?
Closing your Limited Company - your options For many business owners, there will come a time when you want to close your company for one reason or another. But until that point, you likely won’t have thought much about [...]
What is S455 tax?
If you have your own Limited Company there may be times where you lend money to your company, which traditionally comes without tax implications. But what about when you need to personally borrow money from your Limited Company, and [...]
The Autumn Budget 2024
Forty billion pounds of tax rises represents one of the very largest tax rising Budgets outside of a time of recession, with Rachel Reeves announcing a compendium of changes aimed at businesses and higher tax payers. A penny off a [...]
Can you claim free childcare whilst working through your Limited Company?
Ask any parent what the most expensive part of having children is, and the majority will most likely tell you it’s childcare costs. Second to your monthly mortgage or rental costs, you may find that what you pay in [...]
What are the differences between leasing and hire purchase, and how much tax can you expect to pay on electric cars?
Are you running your own Limited Company and considering switching to an electric car? Before taking the leap it’s worth understanding the taxable implications that come with an electric car, and how this can be affected by the final [...]
How much can you claim for using your home as an office?
If you’re working from home or planning to do so in the future, you might be wondering how much you’re able to claim from your Limited Company for completing remote work from your own home. In this blog we explore [...]
What are your Limited Company director’s responsibilities and key dates throughout the financial year?
Directors of Limited Companies have legal responsibilities, such as filing/submitting various forms and returns to Companies House and HMRC throughout the financial year. If you’re new to contracting you may be unsure as to what needs to be done [...]
The Budget 2024
Chancellor Jeremy Hunt has just finished delivering his Spring Budget 2024, in which he said the Conservatives have a plan to 'grow the economy'. He confidently stated that his Budget will "unleash people power and put this country back on [...]
HMRC’s Crypto tax nudge letters
A few years ago crypto was almost a mythical phenomenon, with investors few and far between, and those who invested may have been looked upon as slightly mad to trust such a new form of investment. Fast forward to [...]
How to maximise your tax efficiency before tax year end 5 April 2024
Allowable expenses Claim all of your allowable expenses – you can read our expenses guide here Ensure paid invoices have been recorded – chase those you’re still awaiting payment for Keep receipts 6 years after accounting [...]
Do you owe tax on cryptocurrency in the UK?
If you have, or have previously had any dealings with cryptoassets the chances are there will be a tax liability for you. There’s been some confusion in the past around the tax treatment of crypto, but HMRCs stance is [...]
The Autumn Statement 2023
Chancellor Jeremy Hunt has just finished delivering his Autumn Statement 2023, which he’s hailed a ‘huge boost’ for British competitiveness in his statement for growth. A series of measures were announced with the ‘overall impact of £20bn a year [...]