If you are an employee or a director and use your own car for business travel, your company can reimburse you in the following way (tax-free payments); 45 Pence per mile for the first 10,000 miles, every tax year. 25 Pence per mile for any miles in excess of 10,000. The above cover the cost of
Covid-19 – Bounce Back Loans
Small businesses (limited companies, sole traders and partnerships) are eligible for the government-backed bounce back loans of between £2,000 and £50,000 to help them through the Covid-19 outbreak. Small business owners can apply to accredited lenders by filling out a simple online form which has
A guide to Budget 2020
This is a basic guide, prepared by ACCA’s Technical Advisory team, for members and their colleagues or clients. It’s an introduction only and should not be used as a definitive guide, since individual circumstances may vary. Specific advice should be obtained, where necessary. The message from the
Benefits of using a company
Limited Liability Protection A company and its owners are separate legal entities in the eyes of the law. In legal terms, this is often known as the 'veil of incorporation.' In practice, this means that a company's owners and directors are not responsible for the company's debts and cannot be