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You are currently browsing the archives for the Manager Owned Companies category.

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Archive for the ‘Manager Owned Companies’ Category

How to set up your company for tax efficiency

We have written this easy-to-follow guide to setting up a small limited company for one or two directors. Please contact us if you have any questions. Company Formation There are many companies who offer company formation services. Ensure that you form a company that is capable of trading (not a dormant company) and that you adopt and[…] Read more »

Reimbursement of Business Mileage (Company Car Users)

HM Revenue & Customs now change, on a quarterly basis, the rates at which business mileage allowances may be paid for cars provided by an employer, but where all fuel is paid for by the directors/employees personally. The rates are designed to reflect changes in petrol/diesel costs and those applicable from 1 March 2013 are[…] Read more »

Directors’ Loan Accounts

It is very common for directors to lend money to, or borrow funds from, their companies.  As many directors are shareholders in the companies they operate, it is easy for them to assume that funds can be taken out of “their” company without keeping appropriate records or properly considering the tax implications. However, it is[…] Read more »