November 2018

How To Take Funds Out Of Your Company – For Incorporated Business Owners.

Growing your business and seeing profits increase is the aim for all businesses, especially when just starting out. However very early on you also need to consider how to remove money from your business effectively. There are many ways that a director or shareholder can take money out of the company and deciding on the […]

Setting Money Aside for Tax Bills. How Much Should You Save?

Unexpected tax bills are the last thing you and your business need.  As such, it is critical to the success of your business that you know precisely what to expect and when to expect it. With a little bit of help and preparation, you can do just that. At Moulds & Co Accountants, to ensure […]

If I don’t draw wages, do I have to pay tax?

If you’re self-employed you are essentially seen as not being paid by the business. Instead you are entitled to draw against the profits that the business makes.  As such even if you, the owner of the business, draw down no wages, you may still pay income tax. Why is this? To put it simply, you […]

What Expenses Can You Claim?

“Tax doesn’t have to be taxing.”  That may be true but sometimes it can certainly feel a little taxing when the lines of what you can and can’t do start to become blurred.  Before we dive into the detail we should first discuss a tax concept that HMRC uses to determine whether something can or […]

Can Your Children Save You Tax?

Among numerous advantages to starting a family business the additional tax benefits available make a compelling case for sharing your business income with your children. If you choose to do so, each child is entitled to the same £11,850 income tax personal allowance as their parents.  They also qualify for capital gains tax allowances and […]

Moulds & Co Ltd 2017