Frequently asked questions

We offer high quality services for the companies based in UK. We aim for startups, small and medium size companies that are looking for a solid collaborator.


We offer high quality services for the companies based in UK. We aim for startups, small and medium size companies that are looking for a solid collaborator.

If you own a company, you may receive dividends for your share of post-tax distributed profits, and if you’re also the director, a salary may be paid for performing your duties as an officer of the company. This is an important point, because it means you’re both an employer and an employee – of yourself! But why does it matter?

Employers and employees both pay National Insurance Contributions (NICs) on salary payments, but not on dividends. So, it might make sense to pay yourself a smaller amount as salary and be able to receive more in dividend payments. Also, the good thing about taking a salary is that it means you have regular income throughout the year which, because directors are ‘office holders’, can be below minimum wage without breaking any rules.

So how much should you pay yourself from your own company? In order to be as tax efficient as possible, paying yourself as a company director is actually a bit of a balancing act. To get the balance right it’s useful to consider at least the following:

  • National Insurance contributions as both an employee and as an employer, as well as the benefits of making qualifying payments for the State Pension.
  • How many people are working for your business
  • Tax allowances for dividends
  • Income tax allowances
  • Tax relief for employee salaries

Sit tight, and we’ll talk you through director’s salaries, and what the optimum amount to pay yourself is. We know it can be confusing, so get in contact if you need more help!

The good news is that your company can pay dividends whenever you want, the bad news is that you may end up in trouble with HMRC if not done correctly!


A dividend is a payment a company can make to shareholders if it has made a profit. How do you know if your company has made profit? Your accountant will be able to tell you the exact amount.


Just be really careful, because if you take more money out of your company than you’re supposed to, it’s called a ‘directors’ loan’. And everybody pays interest on loans, even if it’s from your company! And surprise, surprise, you have to pay even Corporation Tax for Loan to Participators. Some, make sure you get a regular update from your accountant as you don’t want to pay more tax then you should!


Next step? No, it’s not the transfer to your bank account! There is some paperwork to be done, and of course we can help you with that!


Now that the money are in your bank account, make sure you pay the correct taxes on your self-assessment! 


Now is time to spend your dividends in peace as your tax declaration is in order!

‘Do you need to register for Self Assessment if you are a director?’


If you receive taxable income from your company and haven’t yet paid any tax on it, then the answer is yes. So, if you are not planning on getting any dividends and you don’t receive any allowances from your company (car, bonuses, meals, accommodation, and so on), you won’t have to submit a Self Assessment tax return. 


‘How to register for Self Assessment?’


You will most likely need to complete form SA1, and be asked to provide some personal information. After you’ve registered, you will get a letter from HMRC within around 10 working days (or 21 if you are abroad) according to HMRC rules. But in reality, it might take more than that. It will contain your UTR and information about your Self Assessment obligations, including filing personal tax returns and paying Income Tax and National Insurance contributions.

If you’re registering for Self Assessment for the first time, you will also have to add the self-assessment tab to your existing online account with HMRC or create a new online account after registration and use your UTR to sign up for the Self Assessment online service.

Within 7 working days (or 21 if you are abroad) of signing up, you should receive an activation code in the post. You will need to use this to activate and sign in to your Self Assessment online account for the first time.

Complete and file personal tax returns

You can use HMRC’s Self Assessment online service to complete and file personal tax returns every year. At least for a while as HMRC will change the rules for filing tax returns starting 6th April 2026 for some and for others from April 2027. More details about it you can find them here (and include the link for this https://www.gov.uk/government/news/government-announces-phased-mandation-of-making-tax-digital-for-itsa#:~:text=GOV.UK%20guidance%20on%20Making,with%20partnerships%20mandated%20from%202025.). The information you will need to provide on your Self Assessment tax return is stated in form SA100. You may also have to complete supplementary pages for some types of income. For example, if you receive a director’s salary through payroll, you must include form ‘SA102: Employment’ to record these taxed earnings on your tax return. This enables HMRC to work out how much Income Tax and National Insurance you owe. 

While completing all those forms make sure you know and use any reliefs and allowances you are entitled to, based on your total earnings from all taxed and untaxed sources!

Don’t forget about the deadline, or you’ll pay a penalty!

Self Assessment filing deadlines are based on the tax year, which runs from April 6th to April 5th the following year. The deadline for filing online returns is 31st January after the end of the tax year in which the income is earned. Paper tax returns have an earlier filing deadline of 31st October after the end of the tax year.

The answer is ‘What suits you better’! 




Limited company

less risk

more responsibilities

less taxes 

need to keep your accounts in check according to the law

more opportunities for tax reliefs, deductions and allowances

earnings and information will be accessible to everyone on Companies House

easier to get a loan and finance


Sole trader

easier to operate

liable for all of its debts

little paperwork

hard to convince Financial Institutions to get loan or finance


higher tax than an LTD

The best type of business structure for you completely depends on what you want most. For ease and privacy, being a sole trader is ideal. For (likely) better tax rates and investment opportunities, the limited company structure is better.

Often, small business owners start their companies as sole traders and then cross over to Limited Company in later years. This is a good idea to test the longevity of your business before taking on the extra legal responsibilities. So when in doubt, start there and work up to becoming a limited company.

That said, if you are a freelancer, like a graphic designer, a sole proprietorship may suit you for the length of your business.

For more guidance on owning a small business in the UK, give us a call!

Yes, if they don’t have an employment contract, they are not a worker, and therefore are always exempt from automatic enrolment.

This means that if your organization has one or more directors who do not have contracts of employment, that organization is not an employer if it does not have any staff other than the director(s). Your company will have no automatic enrolment duties and does not need to complete a declaration of compliance. 

BUT, if this is the case, the director must submit a form to the Pensions Regulator to let them know that you are not an employer.

If your organization does have other staff, then your company has duties in respect of those other staff and it is an employer. If none of the other staff meet the age and earnings criteria for automatic enrolment, you still need to complete a declaration of compliance for your company.

If the company’s circumstances change so that automatic enrolment duties apply, you will  need to inform The Pension Regulator of this as soon as possible. For example, if your company took on a member of staff other than a director, or if at least two directors started working for your company under contracts of employment.

First of all, you need to make sure that choosing to lease a car makes sense for your business, and only after that we decide the tax efficiency part. 

As we come to the second part, at the end of the day, it all boils down to what option will save you the most pennies, so let’s have a look below and decide what suits you better!




Leasing through a Limited Company 

VAT Recoverable – 100% of VAT is recoverable if the vehicle is solely for business use, or 50% if the car has some private usage.

Company Car Tax – You need to pay company car tax on a car lease (unless you’re a sole trader). Thankfully you can reduce this to 2% for 2022-23 by going for an electric car.

Write Off Lease Cost As Business Expense – You are able to write off your monthly payments as a business expense. If the car emits above 130g/CO2, you can’t reclaim 15% of this however.

Reliant On Company Credit/Finances – If you think your company could run into financial hot water in the next few years, or if you’re a relatively new company, a personal deal may be an easier option to get and safer since it’s connected to your personal funds and not a business.

Personal Leasing

Reclaim Business Mileage – You can still reclaim your business mileage if you use a personal lease car.

Pay VAT in full – Although you don’t have to pay company car tax, you will have to pay VAT in full.

Keep Work/Life Separate – If you plan to use the car for personal use primarily and you’d like to keep your business and personal accounts separate, personal leasing affords you this.

Can’t Write Off As Business Expense – You can’t claim a personal lease deal as a business expense.


Which is more tax-efficient?

If you want to drive an economical car, like a swanky new plugin hybrid, then you’ll pay less benefit from leasing through your business. As we’ve already mentioned, keeping your CO2 emissions low will reduce the company car tax, so it’s a win-win! If, however, you’re looking for a car that emits a lot of CO2 and has a high P11D value, then leasing privately is likely to be more tax-efficient.

Working with us

Feel free to choose a time that suits you. We’re here to accommodate your schedule and can meet you at our offices in Aberdeen or arrange a meeting in Edinburgh, Glasgow, or London. We understand the importance of flexibility and can even meet outside regular business hours if needed. Just let us know.

We stand by our recommendations, which are both analytical and measurable. Our services are backed by a 100% risk-free guarantee to give you peace of mind. We encourage you to speak with our current clients, who can vouch for our high-level service and their experiences with us.

We offer a range of services tailored to your unique business needs. During our consultation, we’ll explain our services in detail, allowing you to choose which ones align with your requirements. Your business, your decisions.

Fees and pricing

Our pricing is competitive, offering excellent value for the services provided. We offer fixed fees that align with the value you receive. Importantly, we never undertake work without agreeing on fees in advance, so you’ll always know what you’re paying with no hidden surprises.

Our fixed quotes are generally based on fair fees for the value provided. While inflationary increases may apply over time, we don’t believe in low initial quotes followed by fee hikes. We aim to build trust with our clients for the long term.

Changing accountants

Switching to us is a breeze. All it takes is one letter from you, and we handle the rest. Typically, your existing accountant can’t charge you for providing standard handover information. We’ve created a specific page on switching accountants with more details.

Is your current accountant pro-active, providing excellent service at a fair rate? Are they easily accessible, flexible, and offer unlimited contact without additional charges? If not, or if you want to explore your options, we’re here for you. We offer a free, no-obligation consultation, so you don’t need to rush into any decisions.

It’s never too early to reach out. We focus on changing your financial future, not just reporting the past. Tax planning is crucial to avoid crisis-driven advice. The earlier you start, the better. The same applies to all aspects of advice.


We understand the importance of managing receipts efficiently. While we don’t provide specific software, we’re here to assist and guide you in choosing the right one that perfectly fits your needs. Our goal is to ensure you have the tools and knowledge to make your receipt management a seamless and stress-free process. Feel free to reach out, and we’ll be more than happy to help you find the ideal solution for your business.

Absolutely, we’re here to make your financial tasks as smooth as possible. Our main recommendation is Sage Accounts Cloud, a trusted and user-friendly software that empowers you to create and send invoices seamlessly. It also gives you instant access to your company’s financial status, putting control at your fingertips. While we believe Sage is a fantastic fit for many of our clients, we understand that every business is unique. So, if you have specific software preferences or needs, we’re adaptable and more than happy to work with the solution that suits you best. Your satisfaction and ease of use are our top priorities, and we’re here to support you every step of the way.

Start-ups and growing businesses

We recommend involving an accountant in your start-up as early as possible. An accountant can assist with tasks like registering with HMRC and setting up proper financial recording from day one. They can also handle payroll, ensuring correct tax codes and payments for employees.

We guide you through planning for business growth, including revising your business plan and preparing detailed forecasts. Get in touch for extra details.

If you plan to grow through acquisitions or mergers, we provide advice and support to make the transition as smooth as possible.

While we specialize in various financial services, including those for construction companies, we do not currently offer assistance with acquisitions or mergers. However, we’re always here to provide guidance, answer questions, and explore how we can best support your unique needs. If you have any other financial or accounting requirements, please don’t hesitate to reach out. Your satisfaction is our priority, and we’re dedicated to helping you succeed in every way we can.

Placements and career planning

Yes, our office in Aberdeen provides work experience placements periodically. The availability and details of these placements may vary. Contact us for more information.

Absolutely! Please submit your CV by email and follow our social channels for regular job postings. We’re here to help you explore opportunities.

Ready to Discover, Grow, and Succeed

Our accounting and bookkeeping services are like guiding lanterns through the intricate
financial labyrinth, illuminating a path to limitless possibilities.
Step into the future of your entrepreneurial dream with confidence. Take the first step towards financial success today—book a free consultation with us. Let’s bring your dreams to life!

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