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
How can technology drive efficiencies for my business?
With recent research showing that embracing digital tools could reduce rather than increase overall costs for Small and Medium Sized Businesses (SMBs), we look at why online accounting solutions are a...
Find out moreHow to protect yourself from tax and company filing scams
With tax scams becoming more common around Companies House filings and the self-assessment tax return filing deadline, HMRC is urging taxpayers to stay vigilant.
Find out moreWhat businesses need to know about the temporary 5% VAT rate
The Government has announced a targeted and temporary VAT cut to encourage spending and support families during the summer holidays.
Find out moreChanges 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 and the new powers have been introduced in stages since then.
Find out moreHow do the Companies House reforms affect my business?
The Economic Crime and Corporate Transparency Act 2023 became law on 26th October 2023 and triggered a series of Companies House reforms which affect small businesses.
Find out moreThe digitisation of tax: what does it mean for my business?
Big changes continue with Making Tax Digital for income tax, the Companies House reforms and more HMRC services being online by default.
Find out moreWorking From Home Relief abolished – What can employees claim instead?
With the abolition of the flat rate working from home allowance from 6th April 2026, we explain what other options employers can offer to their home workers and hybrid-working staff.
Find out moreWhat expenses can I claim for when working from home?
What are the rules for business owners and employees who work from home? Here we set out the rules to help you claim everything you’re entitled to and keep you compliant.
Find out moreLinkedIn – how to make it work for your business
LinkedIn is a powerful tool for small business owners looking to build connections, attract clients, form partnerships and promote their products or services.
Find out moreDirectors’ cash extraction – tax-efficient strategies for the new tax...
From April 2026, it is more important than ever for company directors to strike the right balance between salary, dividends, and pension contributions when extracting profits.
Find out moreFRS 102 and FRS 105 changes: What do I need to know?
FRS 102 is the key financial reporting standard for UK small and medium businesses (SMBs), with FRS 105 the key standard for micro-entities in the UK.
Find out moreTax relief on donations to charity
Donating to charity helps you support causes most important to you. It can also mean you make tax savings and using gift aid can mean the charity receives more money from your donation.
Find out moreEmployment Allowance – What is it and are you eligible?
The Employment Allowance is a valuable relief provided to eligible businesses in the UK. It enables them to reduce their annual National Insurance Contributions (NIC) bill by up to £10,500 for the tax...
Find out moreEssential updates for employers: Spring 2026
In the dynamic world of UK employment, the only constant is change. Staying abreast of the latest updates is imperative for employers.
Find out moreThe A to Z of income tax
Your A to Z guide to income tax in the UK. It’s short, simple and to the point.
Find out moreBusiness Asset Disposal Relief – effective tax rate rises to 18%
From 6th April 2026, the effective capital gains tax rate rises from 14% to 18% for those claiming this relief. So, what do business owners need to know?
Find out morePeople with Significant Control explained
Company directors and business owners may be aware of the need to understand and file updates on their company People with Significant Control (PSCs). But how do you identify the PSCs for your company...
Find out moreWhat is business asset disposal relief?
In an evolving tax landscape business owners seek strategies to optimise their tax position, Business Asset Disposal Relief – formerly entrepreneurs’ relief – is a Capital Gains Tax relief that may re...
Find out moreWhat tax do you pay on dividends?
Company profits can be distributed to shareholders as dividends. This guide explains what dividends are and how they are taxed.
Find out moreA 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.
Find out moreCompanies House ID verification – dealing with non-compliance
Company directors and People with Significant Control (PSCs) must now verify their identities (IDs) to continue filing company documents with Companies House. We explain what happens if companies don’...
Find out moreEmployees working abroad – what are the tax issues?
With the rise of remote work and hybrid arrangements, many businesses are fielding requests from employees to work from overseas. But some serious tax and compliance risks can arise if this isn’t cons...
Find out moreHow to choose your first business premises
Choosing your first premises is a major decision for small business owners. Whether it’s an office, retail unit, workshop or warehouse, the right premises can influence business success, image and cus...
Find out moreSeven New Year’s resolutions for your business
New Year’s resolutions aren't just about personal commitments such as signing up for a gym membership or reading more books; you can make plans for your business too. Here are seven goals to consider...
Find out moreBuying commercial property: what do sole traders and limited companies...
Purchasing your own business premises could make financial and operational sense, but there is a lot to consider.
Find out moreHow to prepare your business for Christmas
The Christmas period is the most profitable time of the year for many businesses, so it’s important that you start planning as early as possible. Read this guide for tips on getting your company ready...
Find out moreWho needs to file a tax return?
As your circumstances change, you must keep in mind that you may now be required to submit a tax return. The onus is on you to let HM Revenue & Customs (HMRC) know that you need to file a tax return....
Find out moreFive tax benefits available to your business for going green
Going green isn't just good for the planet - it's good for your bottom line too. As the UK government continues to support sustainable business practices, here are several tax reliefs and incentives a...
Find out moreDirectors – How to verify your identity for Companies House
A key change to Companies House rules is the need for certain key people within a company to verify their identities. We explain how to do this.
Find out moreWhat are the top eight Capital Gains Tax reliefs you can claim?
Whether you are selling a property, business or shares, here are the top eight Capital Gains Tax (CGT) reliefs you should know about.
Find out moreHow to build personal resilience for running a business in challenging...
Read proven tips to boost your resilience and stay strong as a business owner during uncertain times.
Find out moreGovernment announces major strategy to help small businesses
The Department for Business and Trade (DBT) has published a new plan to support small businesses.
Find out moreWhat happens if you don’t repay a director’s loan account?
Directors loan accounts are an essential way to balance the financial requirements of both directors and limited companies. But what happens if a loan account is overdrawn indefinitely?
Find out moreSuccession planning for your business – why does it matter?
Thinking about how you may want to sell or pass on your business in future is important both for your finances and legacy.
Find out moreHow do I make my business more tax efficient?
A tax efficient business is structured to keep more of its profits, by reducing its tax liabilities, while staying fully compliant with UK tax regulations.
Find out moreHow to deal with the impact of tariffs on your business
Tariffs are taxes imposed by a government on imports of goods into their country from another country. In this article we outline what tariffs are, how they affect small businesses and strategies to r...
Find out moreSeven common director’s loan account mistakes to avoid
It is surprisingly easy to make costly mistakes with your director’s loan account, but with the right support and preparation, you can get it right first time.
Find out moreHMRC to stop sending most letters to taxpayers
HMRC has announced that it will stop sending communications to taxpayers through the post unless it is for ‘revenue generating’ letters, such as tax demands.
Find out moreHow do I make sure my business is tax compliant?
Did you know that adding several simple processes could result in less time spent on admin, more confidence in your tax affairs and less risk of penalties? We go over some of these processes to help y...
Find out moreThe benefits of including R&D in your business plan
Find out the benefits of research and development for your business and how to include it in your business plan.
Find out moreHow to apply the triple bottom line framework in a small business
Triple bottom line is an approach to business that considers the impact on people and the planet, as well as generating a profit. Read our guide to how small business owners can integrate sustainabili...
Find out moreDo all accountants really offer the same services?
There's a common misconception among many business owners that all accountants offer the same services.
Find out moreHow to complete a VAT invoice
When it comes to accounting for VAT there is much to consider including keep VAT records and filing VAT returns by the deadlines. A major aspect of being a VAT registered business is VAT invoicing.
Find out moreBusiness rates: Where are we now?
An update on what businesses need to know about business rates, and changes recently announced by the UK and devolved governments.
Find out moreHow to reduce your Corporation Tax bill
Running a company means making decisions to boost profits, offer good products and services and have great company culture. Alongside that, making decisions so that the company is tax-efficient and pa...
Find out moreThe most common accounting mistakes and tax errors made
Tax return mistakes and accounting errors are common and can lead to devastating consequences for you and your business. Here we provide you with tips and information on avoiding mistakes.
Find out moreCommon accounting mistakes to avoid
Accounting is a crucial part of the success of a business. Navigating this part of your business, alongside your other responsibilities can be challenging.
Find out moreCompanies House to provide option to hide residential addresses
Companies House has introduced a new form so that residential addresses do not have to be included in company details on the public register.
Find out morePurchasing a business vehicle – should you lease or buy?
Struggling to decide whether to lease or buy a business vehicle? The tax implications and other considerations can be complex. Read our guide to help you make the right choice.
Find out moreHow can sustainability benefit your business
Sustainability isn’t just good for the planet; it can be great for business. From cutting costs to attracting customers and employees, looking at how you run your business more sustainably can boost y...
Find out moreAn overview of company car benefits
In this guide, we look at when a company car benefit may arise and what the consequences are. We also summarise how company car benefits are calculated, to assist directors in making a more tax-effici...
Find out moreEight ways you can save on tax
Every penny counts so being effective with your tax planning can have significant rewards. This useful guide outlines eight ways you can reduce your tax payments.
Find out moreEffective ways to boost your business' profits
Running a business in the UK is a rewarding and challenging journey. One of the most significant hurdles entrepreneurs face is maintaining and increasing profitability.
Find out moreHow to know if you need to register for VAT
Unsure if you need to register for VAT? Learn the key thresholds, rules, and steps to determine if VAT registration is required for your business.
Find out moreWhat are the most cost-effective ways to purchase equipment for your b...
Looking to purchase equipment for your business? You have several options. This guide outlines what you need to consider.
Find out moreNew Companies House ID check to crack down on fraud
Companies House has released timescales for the introduction of “a new identity verification process to help deter those wishing to use companies for illegal purposes.”
Find out moreTop challenges for business owners and tips to help overcome them
Business owners can face various challenges while trying to grow their business. Chasing late payments, managing deadlines and ensuring a healthy work/life balance are only some of the many plates bus...
Find out moreHow to pay yourself from your business
When there are changes to tax rates and National Insurance thresholds and rates, one of the biggest decisions you face, if you run a limited company, is how much and how to pay yourself from your busi...
Find out moreYour guide to directors’ pay in the UK
Understanding the various ways directors can be paid is essential for maximising earnings and managing tax liabilities both personally and for the company.
Find out moreWhat you need to know about HMRC tax investigations
A tax investigation can also be referred to a compliance check or enquiry. A tax investigation is when HM Revenue and Customs (HMRC) checks your financial records to make sure everything is correct.
Find out moreMaximising allowable expenses for limited companies
As a limited company owner, understanding, claiming and managing your allowable business expenses helps your business run efficiently and pay the right amount of tax.
Find out moreHow to write a business plan
A well-crafted business plan provides a roadmap to entrepreneurial success. Read our guide to writing a plan that meets your strategic and operational goals.
Find out moreSoft skills for hard results: A business owner’s guide
Soft skills, such as effective communication, decision making and people management, are an important factor in business success. Read this guide for advice on how founders can develop them.
Find out moreHow 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.
Find out moreThe 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...
Find out moreYear-end tax planning tips for UK businesses
As the 2025/26 tax year draws to a close, it's crucial for UK businesses to prepare for the tax year-end to maximise efficiencies. Take a look at our UK business tax planning ideas ahead of this year...
Find out more5 things directors need to know
As a director, we understand you're busy, so here are five quick points you should be aware of.
Find out moreFive 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...
Find out moreHow 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...
Find out moreA 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.
Find out moreA guide to paying Corporation Tax
Corporation tax is the tax paid by incorporated businesses in the UK, the rates changed from 1st April 2023 with the main rate of corporation tax now 25%.
Find out moreHow to boost your business’ productivity
A productive business is an efficient and profitable business. Read these tips for how you can improve your productivity.
Find out moreAutomatic 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.
Find out moreHow 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.
Find out moreHow 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.
Find out moreThe 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.
Find out moreA 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.
Find out moreHow 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.
Find out moreA 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.
Find out moreHow 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...
Find out moreDirectors' Loan Accounts Explained
Taking money from the business for personal use when trading as a sole trade or partnership is usually straightforward and unless proprietors' drawings are a major drain on the business' assets, there...
Find out moreHow do I find the right accountant for my business?
Choosing the right accountant for your business is one of the most important decisions you will make as a business owner.
Find out moreHow 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...
Find out moreA 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.
Find out moreHow 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.
Find out moreA 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.
Find out moreThe top five accounting errors small businesses make
It is quite common for small business owners to make accounting errors unwittingly. Your focus is, understandably, on the success and growth of your business, so it is not surprising that errors happe...
Find out moreA 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...
Find out moreWhat 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...
Find out moreHow 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.
Find out moreGuide to corporation tax for limited companies
If you are running a limited company, profits are subject to corporation tax. We uncover everything you need to know, from corporation tax rates to tax return filing and payment deadlines.
Find out moreWhy 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...
Find out moreRead our expert answers to your Directors' Series questions
Claiming business mileage on a private car
I am employed but have to use my own car for business journeys, what can I claim?
Find out moreHow do I verify my identity online for Companies House?
My accountant has advised me that as a company director, I need to verify my identity online before any more company documents can be filed with Companies House. They say I need a personal code. How d...
Find out moreIs Companies House ID verification a benefit for tax purposes?
I’m a director and my company has paid for me to verify my identity for Companies House. Is this taxable?
Find out moreHow do I calculate a Section 455 tax charge?
My director’s loan account was overdrawn for too long and now my company has to pay a Section 455 tax charge. What is this and how do I calculate it?
Find out moreCan I remove my date of birth from public records on Companies House?
I noticed that new directors at our company do not have their full date of birth included when documents are uploaded to Companies House, whereas my full date of birth is showing. Can I ask for this t...
Find out moreWhat is a P11D form?
I am looking at my benefits package for my employees, will I need to prepare a P11D?
Find out moreHow is National Insurance changing for directors?
I am a director and shareholder in my own company. Following the announcement of changes to National Insurance, what is the most tax-efficient method of profit extraction from my company?
Find out moreWill salary sacrifice save tax?
I am an employer, will I save tax if I introduce a salary sacrifice scheme for my employees?
Find out moreMy company is being struck off, what should I do?
I have a limited company and have received notice from Companies House that it is proposing to strike off my company.
Find out moreHow much is company tax?
I run my business as a limited company, how much is the corporation tax rate and how do I calculate my tax bill?
Find out moreCan 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...
Find out moreWhat is the tax return threshold for high earners?
I am employed and my salary is £120,000. I have had to complete a tax return before, but this year HMRC have told me I do not need to file a tax return. Is this true?
Find out moreHow 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.
Find out moreCan 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...
Find out moreWhen 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?
Find out moreHow 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...
Find out moreThe 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?
Find out more