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You decided to start your own business and you do not know were to start from?

First at all, you should consider, you will run your business as Self-Employed, open limited company or may be  is more suitable to register a partnership. Let's get a quick look what is what.

SELF-EMPLOYED

Self-Employed individual works on his/her own. Registering  as Self-Employed is the easiest option for you if you are just starting your business.

 

Are you providing services, for example, cleaning,  babysitting, translating, beauty services, IT services or similar? Or you work in  construction   industry and provide  labour, fixer, carpenter or other constrcution services?  Than Self-Employment is right for you.

Self-Employed is responsible for completing Self-Assessment Tax Return to declare his/her income to HM Revenue & Customs. It is responsibility of Self-Employed person to pay taxes on the income  earned.

 

 

To work out the correct amout of tax payable, you should keep all your records: invoices, issued to customers, bills and reciepts, bank statements and other documents, that confirms your busines incomes and expenses.

TAXATION FOR

SELF-EMPLOYED


Income Tax

20%

National Insurance Class 4

9%

National Insurance Class 2

        £2,85 p/w or

£148.20 p/a


(2017/18)

Limited Company

2. Distinct Entity


A limited company is a completely separate entity from its owners. Everything from the company bank account, to ownership of assets and involvement in tenders and contracts is purely company business and separate from the interests of the company’s shareholders.




3. Limited Liability


Running your business as a limited company means you have the reassurance of ‘limited liability’.


Assuming no fraud has taken place, your ‘limited liability’ means you will not be personally liable for any financial losses made by your business. A limited company can therefore give you added protection should things go wrong.


Those running a business as self employed do not enjoy such protection from financial claims if things go wrong with their business.

Just imagine the advantage of having someone to take the accounting burden away, how much more time you can spend concentrating on your business and clients.


Having a reliable accountant will not just save time for you but money as well. You will avoid potential penalties as you will not have to remember all the declaration dates and law changes - we will do this for you.


We offer accounting services for businesses including:


VAT – registration, declaration and consultation. We will advice you when business needs to register for Value Added Tax (VAT), when it is beneficial and when it is essential. As our client you will be briefed about available VAT Schemes, declarations will be filled correctly and on time, in a case of a company’s VAT declaration check we will assist you throughout the way.

PAYROLL. When registering as an employer you take the responsibility for your employees' pay and taxes declared. For not submitting or for making a false declaration you will be penalised, so avoid the hassle - trust our experienced team.

Corporation Tax. This is the main type of taxes all LTD companies have to pay if in profit. It is not enough to calculate your profits, submissions and payments have to be made on time to avoid penalties. There are certain laws and rules that need to be followed, by trusting accounting services to us and we will advice on how to maximise company’s profitability and reduce tax burden following current laws.

CIS – Construction Industry Scheme. This scheme was introduced to control construction industry. We will advice you if business needs to register for the scheme and make monthly declarations on the business behalf.

Self-assessment. If you are carrying out business as a sole-trader we are here to guide and advice you on business activities and tax issues. Tax declaration is as essential to a sole trader as it is to a company so do not risk filling it in incorrectly.


Assuming no fraud has taken place, your ‘limited liability’ means you will not be personally liable for any financial losses made by your business. A limited company can therefore give you added protection should things go wrong.


Those running a business as self employed do not enjoy such protection from financial claims if things go wrong with their business.

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Rerum sapien consteur eiusmo exrcation ullacoe laborisw velitesse pariatue

excepteur deserunt aborum perscais voluptan acusaniu dlorque audeum eaueips sollicitudin vitaeca explicabo enipsam voluptas aspernatur.

CONTACTS:

info@adamanth-acc.com

+44 (0) 741-3737-559

+44 (0) 800-368-9335

Office S8, Boleyn House

776-778 Barking Road

London, E13 9PJ

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