Limited Company FAQ's

Companies House main responsibilities are to incorporate and dissolve limited companies, examine and store company information and make this information available to the public.

The changes will affect everyone submitting VAT Returns for accounting periods starting on or after 1 January 2023. Any nil or repayment VAT returns received late will also be subject to late submission penalty points and financial penalties.

What is VAT, when do you have to register for VAT, what are the charges? We explain the basics here in the VAT FAQ.

The government has “U-turned” over it’s previous announcement to retain a flat 19% corporation tax charge on company profits - and has announced that a main rate of corporation tax of 25% from 1st April 2023 will go ahead.

Stationery and postage costs may be claimed if in the performance of your duties. This can cover printer consumables, general stationery used and necessary postage, courier and carriage costs.

It is possible to claim for the costs of computer software, consumables and website costs subject to HMRC guidelines.

You may claim for annual subscriptions for approved professional bodies or societies provided it is in relation to the type of work undertaken by you and is either on HMRC’s approved list and or is a pre-condition to be able to undertake your work.

We recommend you claim for the actual costs incurred when working overseas, however it is possible to claim the approved HMRC worldwide subsistence rates if the rates are favourable. Temporary workplace rules (24-month rule) apply to the worldwide subsistence rate expenses.

You may be able to claim for work related training subject to HMRC guidelines as long as it meets the criteria.

You can claim for the cost of one business mobile phone, telephone or broadband, subject to HMRC guidelines.