Understanding S455 Tax on Director’s Loans As a Limited Company director there may be times when you have to lend your company money, which will usually not result in any tax implications. So what happens when you personally need to borrow money? In this blog we take a closer look [...]
Common Accounting Terms Explained If you’re new to running your own business you’ll undoubtedly find yourself exposed to the world of accountancy and finance, and potentially hear new words and phrases. Whilst this can seem daunting, there’s no need to worry! In this blog we look at some of the [...]
As a Limited Company owner, are you aware of the tax implications of an electric car for your business? In this blog, we’ll explore the differences between leasing, hire purchasing and outright purchasing an electric vehicle and the tax you can expect to pay. The electric advantage The government, in [...]
The Vantage team are growing even bigger, with the introduction of our latest office in Salisbury, Wiltshire. Having completed our previous new office opening in Renfrew, Glasgow only last month, we’re so proud to announce that we’ve also now opened one in Salisbury. Why Salisbury? With our other offices [...]
Your accountant is far from just a number-crunching machine! They have specialist knowledge regarding taxes, expenses, allowances and so much more. In this blog, we’ll outline some of the key questions that you should be asking your accountant to ensure your business is as efficient as possible. Can I make [...]
Your responsibilities and what you need to file with HMRC and Companies House 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 running your own company you may be unsure [...]
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 within the decade – the biggest ever business boost for [...]
The festive season is approaching and many Limited Company directors are starting to prepare for their yearly celebrations. Fortunately, HMRC recognises staff entertainment as a valid business expense, but your festivities need to follow certain rules to qualify for tax and National Insurance exemption. What are the rules? To be [...]
In recent years, electric cars have become increasingly common on our roads. Charging points are now a familiar sight in supermarket and office car parks, as well as private driveways. And with Government targets for all cars to be hybrid or electric by 2030 and 100% electric by 2035, it [...]
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 billion transformation of capital allowances from April this year, which will [...]