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A penalty may now be on its way...Some companies that filed their Corporation Tax return late may shortly receive an unwelcome letter from HMRC, even though the filing deadline passed some time ago.HMRC temporarily stopped issuing automatic Corporation Tax late-filing penalty notices while it updated its computer systems. Those changes have now been completed and…

Running a limited company gives business owners several ways of taking money from their business.Salary and dividends are the most familiar, but they are not the only possibilities. The tax consequences can also be quite different, which means simply transferring money from the company bank account when you need it is rarely the best approach.Taking…

It is one of the more frustrating situations for a business owner.Sales are increasing, everyone seems busy and there is plenty of work coming through the door. Yet the bank balance does not seem to improve, and, in some cases, cash becomes even tighter as the business grows.The problem is that increasing sales does not…

Imagine that tomorrow morning you were suddenly unable to work.Not permanently, but for three months.Could your business continue operating normally without you?For many owner-managed businesses, the answer is less certain than the owner might like to believe. The business may employ capable people, have established customers and generate healthy profits, but important knowledge, authority and…