Millward, May & Co - Wokingham Accountants
Wokingham Accountants

Frequently Asked Questions

FAQs

General Business Questions

Business structure - we take a look at the pros and cons of a limited company v's a sole trade structure.

Sole trade expenses - what expenses can I claim as a sole trader?

Tax rates - tax rates, thresholds & allowances


Company Questions

Company addresses - an explanation of the different types of company address.

Company car - is it best to buy a car through my company or personally?

Company expenses - what expenses can I claim as a limited company?

Company tax planning - we show you how it's possible to reduce your personal tax liability when trading through a company.

Director responsibilities - we take you through your responsibilities as a new company director with Millward, May & Co.

Director salary - what is the best salary and dividend to pay myself as a director/shareholder?

IR35 legislation - designed to prevent tax avoidance by contractors who provide their services through a limited company but who are actually acting as an employee.

Maternity allowances - there are two types of maternity leave potentially available to company directors.


Personal Tax Questions

Benefit in kind - a list of common benefits provided to employees by their employer.

Mileage - is your employer paying you less than 45p per mile for business mileage in your personal car?

Pensions - there are two types of pension - we compare a ‘salary sacrifice’ pension to a ‘relief at source’ one.

Rental property - we look in to whether it's more tax efficient to own rental property personally or through a company.

Tax code - what does my tax code mean?


VAT

Flat rate scheme - what is the flat rate VAT scheme and should you be on it?

Rechargeable costs - if your customer agrees to pay for your expense costs (e.g. travel, food, mileage) there is a common mistake that businesses make when invoicing their customers.

Registration - is it beneficial for my business to become VAT registered?

Services (not goods) abroad - do I need to charge VAT on my services supplied to an overseas company?


 
However difficult life may seem, there is always something you can do and succeed at
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