Directors' Series

In our Directors’ Series we provide limited company directors across the UK with the necessary information you may need to understand tax, salary and other issues that may affect you business.

As a company director concentrating on starting, or growing, your limited company but can overlook some of the most important questions about how they can pay themselves, extract money from their company and explore the various tax options available.

If you are a company director and want to ensure you are extracting money from your company efficiently, TaxAssist Accountants can help you. We offer a FREE initial consultation to all new clients. Contact us today to book yours.

We've got you covered

A guide to company secretarial duties and responsibilities

The company structure offers businesses the benefit of limited liability protection with the company being a separate legal entity to the individuals who own and run it.

Understanding an overdrawn director’s loan account

Managing the financial health of a limited company involves many responsibilities, including maintaining a balanced director’s loan account.

The top metrics every business should track in 2024

Running a successful business demands sharp focus and data driven decisions. While intuition plays a role, tracking key metrics empowers you to make informed choices and unlock your business' true pot...

Changes at Companies House – what this means for you

The changes to the Economic Crime and Corporate Transparency Act (ECCTA) received royal assent on 26th October 2023. Companies House is “aiming to introduce some of these changes on 4th March 2024… th...

5 things directors need to know

As a director, we understand you're busy. We want to keep it brief, but we want to make sure you know what you need to so we’ve condensed this information into five points

What is business asset disposal relief?

This article looks at the importance of the capital gains tax relief "Business Asset Disposal Relief" (formerly entrepreneurs’ relief). In an evolving tax landscape business owners seek strategies to...

Five questions you should ask your accountant

As a business owner you want your business to be a success and so should your accountant. The relationship with your accountant is important. They are offering a service and you should be satisfied th...

How to protect your business

In this guide, we look at financial health, legal protection, cyber security, and more. It offers strategies to help UK business owners strengthen their enterprises against any challenges they may fac...

A guide to UK company formation

The UK offers countless opportunities for entrepreneurs. But how do you form a company? This guide explains the steps you need to take.

A guide to paying corporation tax

Corporation tax rates changed from 1st April 2023 for the first time since 1st April 2015. It is important to understand and anticipate these changes to allow you to budget for your tax payment.

Who needs to file a tax return?

Self-Assessment is the system that was created by HM Revenue & Customs (HMRC) to ensure the correct amount of tax is collected for a tax year. You should therefore check each year whether you need to...

How to boost your business’ productivity

A productive business is an efficient and profitable business. Read these tips for how you can improve your productivity.

Eight ways you can save on tax

Every penny counts in business so being efficient with your tax planning can have significant advantages. This guide outlines eight ways you can reduce your tax payments.

How to write an invoice

Writing an effective invoice is important for ensuring you get paid on time for the goods or services you have provided. This guide outlines how to do it.

How to set up effective goals to help grow your business

Setting goals is an important factor in business success. Read our guide to working out the objectives you should be setting for your business and how to measure your progress in achieving them.

The benefits and risks of artificial intelligence for small businesses

The launch of ChatGPT has led to huge global interest in the power of artificial intelligence. But how can it benefit businesses and what are the potential risks? Read our guide to find out.

A guide to the duties and responsibilities of limited company director...

Limited company directors have various legal duties and responsibilities that they must carry out. This guide outlines what they are and the consequences for not complying with the regulations.

How technology can drive efficiencies for your business

We look at how technology can be used to help business owners work smarter with their accountants.

How to effectively resource your business

Ensuring your business has sufficient and effective resources to operate is crucial to its success. This guide outlines key areas you should focus on.

A guide to market research and competitor analysis for your business

Understanding the market your business serves will help you to successfully launch your new venture and build success over time. This guide highlights factors to consider and actions to take.

How to recruit and retain staff in challenging times

In the post-pandemic world, many small businesses are facing recruitment obstacles as employees look for flexibility, more workplace benefits and higher wages amid the cost-of-living crisis. Read our...

How do I find the right accountant for my business?

‘How do I find a good local accountant?’, ‘when should I look for an accountant?’ and ‘do accountants offer free advice?’ are some of the most common questions business owners ask about working with a...

How businesses can cope with the cost-of-living crisis

Like households with the cost of living crisis, UK businesses are facing rising costs. Increasing energy prices, record high interest rates and hikes in the cost of raw materials means firms are being...

A guide to financial key performance indicators for businesses

You can use key performance indicators (KPIs) to measure the growth and financial health of your business. Read our guide to KPIs and how to choose what to track for your company.

How to get a bank loan for your business

Starting a new company, growing an existing venture and improving cash flow are among the reasons for why you might seek a business loan. Read our guide to your options and how to ensure your applicat...

How small businesses can deal with late payments

Late payments from customers are a frustrating obstacle to managing your business’ cash flow. Read our guide to the steps you can take to deal with overdue invoices.

A guide to cyber security for small businesses

Any business and individual could be targeted by cyber criminals, but there are various steps you can take to protect you and your business and minimise the risks.

A guide to management accounts

Business owners who choose not to create management accounts are missing out on valuable insights that can be used to drive business growth. Read our guide to the benefits of management accounts and h...

What is entrepreneurs' relief?

We explain the importance of entrepreneurs’ relief (now known as Business Asset Disposal Relief) to small business owners when planning their retirement, sale or exit from their business. We will also...

How to plan ahead with your business

During these challenging times, many small businesses in the UK are having to adapt to secure their future. Read our tips for how you can plan for the months ahead.

Guide to corporation tax for limited companies

If you are running a limited company, you are subject to corporation tax. The rules can be complicated so it’s important to understand them to avoid a penalty. Discover everything you need to know, fr...

What tax do you pay on dividends?

The profits generated by limited companies can be distributed to shareholders as dividends. This guide explains what dividends are and how they are taxed.

Why every business should have a cash flow forecast and how to build o...

A cash flow forecast is one of the most useful financial tools a business has. However far too often it is low down on their list of priorities. Survey after survey shows that business owners do not h...

Directors' Loan Accounts Explained

Taking money from the business for personal use when trading as a sole trade or partnership is normally easy and straightforward and unless proprietors' drawings are a major drain on the business' ass...

Automatic Enrolment duties explained

Employers are required to comply with Automatic Enrolment legal duties, so it's important to know what is expected of all businesses and by when.

Read our expert answers to your Directors' Series questions

How is National Insurance changing for directors?

I am a director and shareholder in my own company and, having heard the announcement that the class 1 NIC rate for employees is reducing. What is the most tax-efficient method of profit extraction fro...

Can electric cars be used in a salary sacrifice scheme?

I am a business owner and I want to improve my green credentials. I have heard that a way to reduce the emissions is to consider providing a salary sacrifice scheme for employees wanting to buy an ele...

When is my company accounts filing deadline?

I run a company with the 31st March year-end, is my deadline the same as the 31st January tax return filing deadline?

Can I save tax by making company pension contributions?

I run my own limited company and pay myself a modest salary and also extract some of the profits via a dividend. I believe my annual taxable profits will be around £70,000 and was told I could save ta...

How much corporation tax should I pay?

I run my business through a limited company and make around £80,000 profit per year. I’ve heard corporation tax rates are increasing and would like to know what rate of tax I will pay moving forwards.

How can I incentivise my staff on a budget?

Given the cost of living and energy crisis, I am looking at ways to incentivise my staff, but am facing cost pressures so am limited in what I can afford to pay. Can you help me develop a strategy for...

The tax implications of owing your company money

I have an overdrawn director’s loan account with my company of £15,000, what are the tax implications?

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