Chancellor of Exchequer Mr. Rishi Sunak has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. This includes a package of measures to support businesses including: Coronavirus Job Retention Scheme Deferring VAT and Income Tax payments A Statutory Sick […]
Diirector’s loan is when director withdraw money from their company that isn’t related to dividends, remuneration and benefits. Director must keep a record of any money they borrow from or pay into the company – this record is usually known as a ‘director’s loan account. If no money is introduced ( in the form of […]
Company directors and shareholder pay themselves salary and dividends. Company must set up a PAYE scheme with HMRC before paying salary to any employee including directors. A dividend is a payment made by a company to its shareholders, usually as a distribution of profits. Limited companies are only allowed to pay dividends if they have enough profit available […]