Limited Company FAQ's

If you are having a baby, your husband/partner may be entitled to SPP if you meet the criteria:

If you are expecting a baby, you may be entitled to claim Statutory Maternity Pay and leave if you satisfy the following qualifying criteria:

If you satisfy the below qualifying criteria, then the SSP starts after a period of 3 days has passed which are known as the Qualifying or Waiting Days (QDs or WDs). This is as long as you have not been sick in the previous 8 weeks.

As an employer there are a number of statutory payments that you may need to pay your employees. These include:

Certain benefits attract additional National Insurance Contributions, known as Class 1A NIC. This is cost to your company but does not count towards your contributions for state benefits.

No - you do not include those expenses which are wholly business expenses that you incur personally.

There are two forms that should be considered when reporting benefits in kind with HMRC: Form Plld and Form Plld(b).

The Rent a Room scheme is available to those who rent part of their only home to a lodger. A lodger is someone who pays to live in your home, sometimes with meals provided, and who often shares the family rooms.

When purchasing a buy to let property, the Stamp Duty will be higher than when purchasing your own home. The rates for a second property are based on the purchase price of the property and are calculated as follows:

Any improvement costs to the property or replacement of integrated appliances i.e. kitchen and bathroom refitting, would not be treated as an expense against your rental income. This is because these are deemed to add value to the property. Instead, you would be able to claim these at the point that you sell the property to reduce the tax on the amount that you make from the sale.