- Are You Due a Refund
3 simple questions to before we start...
Great news...You’re eligible for a refund
Claim today and get paid on 19 June 2019
You might not be eligible for a refund.
Don't worry one of our helpful advisers will be able to check this for you. Call now on 020 8561 8388.
- Calculate Your Refund
Tax Refund Calculator (18/19 tax year)
Turnover (before tax)
Estimated percentage of expenses
Value of expenses
Are you taxed at 20% or 30%?
Great news! You’re due a refund of .
On the basis of the information you’ve provided, you’re eligible for a refund. Call now on 020 8561 8388, or…
Claim today and get paid on 19 June 2019
You may owe to HMRC.
Don’t worry the most common reason is due to a mistake in what you have entered.
Please get in touch and we’ll check.
- Any Questions?
- Refer a friend
Refer a friend
Simply recommend friends using the referral form below and receive £60 in cash for every successful referral!
Refund Registration Form
Here, we highlight 10 of the biggest benefits a limited company gives you over working as self-employed;
Starting up as a sole trader is without doubt the simplest way to start a business in the UK. All you need to do is inform HMRC that you are working as ‘self employed’, and account for your business activities through the annual self assessment tax process.
Setting up in business as a limited company involves a more complex formation process, and the financial and administrative responsibilities of running a limited company are certainly greater than those of a sole trader.
There are advantages and disadvantages to both the self employed and the limited company routes. Which option is best for you depends on your own particular circumstances so it’s important to look at the key differences between these two business structures;
The main advantage of running your business as a limited company is that you are likely to pay less personal tax than a sole trader.
Limited company profits are subject to UK Corporation Tax, which for the current 2018/19 tax year is set at 19%. The Government has stated it’s intention to cut UK Corporation Tax to 17% from the tax year starting in April 2020.
If you are the director and shareholder of a limited company, you may choose to take a small salary and draw most of your income in the form of dividends.
By doing this you can minimise the amount of National Insurance Contributions (NICs) you have to pay because limited company dividends are taxed separately, and are not subject to NICs.
As a sole trader, your entire income is subject to NIC rules. Running your business as a limited company could therefore help you to take home more of your earnings.
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.
A sole trader and his/her business is treated as a single entity for tax and administrative purposes.
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.
In some businesses and industries, having a limited company can provide a more professional image.
If you are doing business with larger companies, you may find that they prefer to deal only with limited companies rather than sole traders or partnerships.
Finding funding can be difficult for all types of businesses in the current climate. But because a limited company is a distinct entity from its owners it may be a little easier for a company to secure business finance than it is for their sole trader counterparts.
Once you register your company with Companies House, your company name is protected by law. No-one else can use the same name as you, or anything deemed to be too similar.
As a sole trader, it’s possible someone else could trade under the same name as you, and you couldn’t do anything about it. This could damage your business, and in some cases, result in you having to go through the costly and time-consuming effort of changing the name of your business.
A limited company can issue various classes of shares. This means you can easily sell stakes in the company, or transfer ownership of shares.
If your limited company has more than one shareholder you should get a Shareholders’ Agreement.
Many people prefer to operate as sole traders rather than limited companies because the start-up and running costs are perceived to be significantly lower. l. Most accountants will charge more for preparing annual accounts for a limited company than they would for a sole trader. The differential varies so ask your accountant what both options would cost you.
A limited company can fund its employees’ executive pensions as a legitimate business expense. This can offer a tax advantage over those who are running their business as self-employed.
If a shareholder wishes to retire, sell his shareholding, or dies, it is far easier to transfer ownership of a limited company than a non-registered business structure.