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Bookkeeping advice when setting up a business?
I’m setting up a business. What should I do around bookkeeping? When setting up a business it is important to make sure your bookkeeping system is suitable for your type of business – and also for your skills. It should enable you to extract useful information (e.g....
What is the marginal rate of tax?
The marginal rate of tax paid is “the percentage of tax paid on earnings for the next pound earned.” What that means is that if you earn £50,000 your marginal rate of tax is 40% because for the next pound that you earn, you will be paying tax at 40%. Below are the...
Should I set up as a Sole Trader for my new business?
Not necessarily, a Limited Company can result in you paying less tax and - while a Company owner might lose their business - a Sole Trader (self-employed) can lose personal assets as well! See video. If profits are below about £12,500, acting as a Sole Trader makes...
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If you are a small business or a Contractor – we are here for you. We will help you through all stages from setting up to reviewing your existing business – making sure that you have the most tax effective structure.
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