Can my Limited Company contribute to my pension?
When you’re busy working you’ll want to know that your future is taking care of, usually in the form of a pension. But can you contribute to a personal pension from a Limited Company? In this blog we explore just that, to [...]
The Autumn Statement 2023
Chancellor Jeremy Hunt has just finished delivering his Autumn Statement 2023, which he’s hailed a ‘huge boost’ for British competitiveness in his statement for growth. A series of measures were announced with the ‘overall impact of £20bn a year within [...]
Can you claim your festive party as a business expense?
It’s that time of year again when things start to get festive and many Limited Company directors start planning their annual ‘do’. HMRC are somewhat generous when it comes to events, as staff entertainment is considered an allowable business expense, [...]
What business records do I need to keep when running your own business?
When starting your own business, you are required to meet certain expectations set by HMRC when it comes to record keeping, whether this be as a sole trader, partnership or limited company. These requirements can sometimes be confusing to navigate [...]
Team Aardvark completed their sky dive for Dorset Mind
Last year the Aardvark Accounting team took on the 3-Peaks Challenge and raised over £2,500 for a great cause. This year we set our sights even higher (15,000ft higher to be exact!), and aimed to raise £3,000 for a charity [...]
Business Bank Account FAQs
What’s the difference between my personal bank account and a business bank account? When you set up a business it’s a great idea to get a separate business bank account set up. Your business and personal affairs, including finances, are [...]
Reducing your Corporation Tax by making charitable donations through your Limited Company
Donating to charity is a great way to support causes that matter to you. But did you know that by donating through a Limited Company, it can claim tax benefits on the donation? In this blog, we outline how donating [...]
How much tax can you expect to pay on electric cars?
Electric cars were once a thing of the future, and it was rare to see one out and about on our roads. But now, more and more people are purchasing them, with charging points being the norm in supermarket and [...]
Aardvark Accounting is winner of the Best Contractor Accountancy Award 2023
The Contracting Awards for the contractor accountants is what The Oscars are to Hollywood’s A-listers, so you can imagine just how excited we were to be nominated at this year’s awards, let alone WIN! We’re so pleased to be announced [...]
The Spring Budget 2023
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The Chancellor announced a £27 billion [...]
2023-24-tax-changes-rates
National Insurance & Tax Tax-free personal allowance - £12,570 Basic rate – 20% up to £37,700 Higher rate – 40% - from £37,701 to £125,140 Additional rate – 45% - above £125,140 National Insurance [...]
How to maximise your tax efficiency before tax yearend 5 April 2023
Allowable expenses Claim all of your allowable expenses Ensure paid invoices have been recorded – chase those you’re still awaiting payment for Keep receipts 6 years after accounting period ISAs Use your ISA allowance £20,000 [...]
The Autumn Statement 2022 Full Report – what it means for Limited Company contractors
Since the reversal of Liz Truss’s tax policy changes last month, new PM Rishi Sunak and Chancellor Jeremy Hunt have promised a new statement, concluding that now is the right time to proceed with a package of tax cuts. In [...]
Business expenses through a Limited Company
Running a business comes with its costs and sometimes it isn’t always clear which of these costs are tax deductible. To help, we have created a short and informative guide about commonly claimed expenses. Understanding how reclaiming expenses works [...]
BREAKING NEWS – Repeal of IR35 reforms and back track on Corporation Tax
Jeremy Hunt, The Chancellor of the Exchequer, has today scrapped the plans to repeal the Off-payroll IR35 Reforms, which had been announced by Kwasi Kwarteng on 22 September 2022. As part of his ‘Growth Plan’, Kwarteng had set out a [...]
MINI BUDGET SEPTEMBER 2022
The mini budget - what it means for contractors Well that was a big U-TURN affecting the contracting industry! The (not so) mini-budget delivered by new Chancellor, Kwasi Kwarteng last Friday, had a lot more in it than anyone expected. Repeal [...]
The April 2023 Corporation Tax Rate increases – explained
One of the major announcements from the 2021 March Budget was that Corporation Tax would be increasing from 19% to 25% in April 2023. So what does this mean for Limited Companies? In this blog we take a look at [...]
Summer entertaining – the rules behind having a good time
Summer is finally here, hooray! Grab the sun cream, fire up the BBQ and pour yourself something cold, it’s time to enjoy the weather and some much needed socialising. But before you make any plans, what are the rules when [...]
Borrowing money from your Limited Company
There may be times when you’ll need to borrow money from your Limited Company, but how do you go about doing so and what are the associated tax risks from doing so? Plus, is there anything you need to be [...]
Top tips on how to reduce your energy consumption when working from home
It’s an expensive time to work and live in the UK, even more so if you contract from your home. With bills already increasing to an alarming rate and even more rises set to be announced in the autumn, now [...]