Welcome to London All Management Services, Professional Accounts and TAX Advisers.
14th December 2017

Canary Wharf,

London, E14 9FW

0203 475 1980

10:00 – 18:00

Monday to Friday

Things you may interest

Why do I need Self Assessment ?


HMRC normally issues SA to complete in certain cases. But in common you need to do SA as follow:

  • If you are a sole trader or if you have any income other than employment income
  • If you are a company director
  • If your income is over £100,000 (generally)
  • If you have any underpaid taxes in previous year and HMRC could not find your current income sources to adjust
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How to open a business ?

In common practice you can open sole trader or you can open Company.

If you have any questions please ask and we will update here

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Which one is better?

In sole trader there are less paper works and submission to maintain whereas in companies there are more paper works and submission. But in sole trader you are personally liable for all of your business debt where as in companies you are not personally liable for any business debt.

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Is my Employer deducting more taxes?

2014 (April) – 2015 (March) your tax code is 1000L means you do not need to pay any taxes if your income is £10,000 or bellow. You need to pay taxes above £10000 @20%. When your income reach £31,865, you need to pay taxes (£31,866 – 150,000)@40%.

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Some companies are going to dissolve but they did not pay your invoice, what should I do?

You can object and write to Companies house at: Companies House, Crown Way, Cardiff, CF14 3UZ. You can start as
“I HAVE OBJECT TO THIS PROPOSED ACTION BECAUSE………..”
You need to quote company registration number and need to tell them the outstanding amount.

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I want to buy a house, will it affect my benefits?

Yes, some of your benefits will be affected. If you don’t need government support, it’s better to leave certain benefits so that your council can do some other better things for your community.

Payroll

you need to run on monthly basis. Please take advice from your Accountant to avoid penalty and charges.

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Online Self Assessment deadline: 31 January each year. What happens if you missed it ?

You will be charged unnecessarily.

Annual Returns or Annual Accounts deadline

You can find it by visiting: www.companieshouse.gov.uk.
In search criteria put your company name and you can find the deadline.

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