Taxez

"📈 Ever wished you could just focus on growing your business and leave the number-crunching to someone else? At Taxez, we're here to make that wish a reality!

Our team of Chartered Accountants is passionate about helping your business thrive. We take care of the numbers, so you can channel your energy into doing what you do best: expanding your business!

We believe in making life easier for business owners. That's why we offer FREE initial consultations.

Leave the numbers to us, and focus on taking your business to the next level. 🚀

Ready to grow with us?
Contact us through our website
👉www.taxez.co.uk👈
🔗link in bio🔗

🔍 "Decoding the Mysteries of DLAs - Welcome to the world of Director's Loan Accounts!" 💷

📌Our FAQ series continues, and today we're unpacking a term you may have heard but aren't quite sure about - Director's Loan Accounts (DLAs). Let's explore what it is and why it's a crucial concept for your business to understand.

What is a Directors Loan Account?
T​he Directors Loan Account (DLA) is an account that reports amounts due to/from the director. Any transactions made to/from the director are recorded here along with any business expenses paid by the director personally.

Directors Loan
If the balance of the DLA shows a loan from the director to the company, the balance loaned to the company can be repaid to the director immediately tax-free (assuming there are funds in the company bank account).

📌If you would like to read the full answer to this question, please visit our webpage below
👉https://www.taxez.co.uk/what-is-a-directors-loan-account👈

💼 At Taxez, we're not just accountants, we're here to help businesses thrive!

Are you looking for smart savings? That's our specialty!

🌟 Don't just take our word for it. Here's a review from one of our valued clients on Trustpilot:

'Great service, efficient, quick, and very professional. Happy I found them will certainly be using them again.' -Peter

Want to join our growing community of satisfied clients? Get in touch today to learn more about our services! 🚀

👉 www.taxez.co.uk 👈

"

🔍 "FAQ Series "How Do Dividends Work?" - How Much Should I Pay Myself?" 📈💰

👋Hello again, finance enthusiasts! Today we're wrapping up our FAQ series on "How Do Dividends Work?" with a very practical question: "How much dividends should I pay myself?"

Once we have finalised your accounts we will be able to advise you exactly how much retained after-tax profits are available to be paid as dividends.
​
For director owned companies, it's usually beneficial to extract annual profits as dividends immediately rather than retaining the profits within the company to be extracted in a future year. This is because you will utilise your annual tax-free allowances and lower income tax brackets. If your company needs to retain the funds for investment purposes, a director's loan can be made to the company. The loaned funds can be withdrawn anytime in the future tax-free.

Did you know? It's crucial to avoid an overdrawn Director's Loan Account. But what is a DLA, and why is it important to monitor it?

Stay tuned as we unravel the world of DLAs in our upcoming post about ''What is a Directors Loan Account?'.🧐💷

➡️If you are looking for an accountant or have any questions just visit our website and get in touch for a free consultation 🤝
👉 www.taxez.co.uk👈

📣Welcome back to our FAQ series on "How Do Dividends Work?" Today, we're tackling a question on many business owners minds: "How much tax will I pay on my dividends?"📈

​📌You have a £12,570 (23/24) income tax, tax-free allowance. If you have not already fully utilised your tax-free allowance against other income, the remaining portion of your allowance can be utilised against your dividend income. In addition to any unused portion of your income tax, tax-free allowance, you have a £1,000 (23/24) dividend tax-free allowance.

​📌Dividends are then taxed at 8.75% to £50,270 then 33.75% to £125,140 and 39.35% thereafter.

📌​Shareholders are responsible for declaring dividends received to HMRC as personal income. If you earned total dividends of less than £10,000 during the personal tax year to 5 April, you can declare your dividends to HMRC over the phone (call 0300 200 3310) avoiding the need to file a personal tax return. If you earned dividends over £10,000, you must file a personal tax return to declare the dividends to HMRC.

⏰Stay tuned for our next post where we'll dive deeper into 'How Do Dividends Work? .
➡️If you are looking for an accountant or have any questions just visit our website and get in touch for a free consultation 🤝
👉 www.taxez.co.uk👈

🚀 Here is our second question from our FAQs series 'How do dividends work?' 🌟

Over the coming days, we will be exploring the ins and outs of dividends and helping you understand how they work. 📈💰

So, let's start with the basics - what is a dividend?

A dividend is a payment to the shareholders of a company (who may or may not also be the company's directors) from the after-tax profits earned either during the current accounting period or retained within the company from previous accounting periods. Sufficient profits must be available to declare a dividend.

The amount each shareholder receives will depend on their percentage ownership of the company. For example, if a company has £20,000 of retained profits and the directors have chosen to pay the full £20,000 as dividends, if there are two shareholders who own 50% of the company each, each shareholder will received £10,000.

❣️Stay tuned for our next post where we'll delve deeper into the mechanics of dividends.

If you are looking for an accountant or have any questions just visit our website and get in touch for a free consultation 👉 www.taxez.co.uk! 👈

💼🔑 Unlock the Key to Financial Success: Separate Your Personal & Business Bank Transactions! 🏠💰

Do you run your own business? If so, one of the most important steps you can take for financial success is separating your personal and business Bank Transactions. Here's why:

- Simplified Bookkeeping: Keeping separate bank accounts makes it easier to track business income and expenses - particularly when you forget what the transaction was for 1 year later! 📊

🗒 Open a dedicated business bank account and ensure all, and only, your business transactions go through this account

🗒 Ensure all, and only, your personal transactions go through your personal account

Have accounting questions you need answering? Drop us a message or get in touch through our website. 🚀

👉www.taxez.co.uk👈

🌟 Empowering Small Businesses with Expert Online Accounting Services! 💻

Running a small business can be challenging, but managing your finances doesn't have to be. Our dedicated team of online accountants is here to support your small business every step of the way! 🚀

Why work with us?
✅ Expertise in small business accounting
✅ Convenient and accessible online services
✅ Tailored solutions to fit your unique needs
✅ Time-saving tools and resources
✅ Friendly and knowledgeable support

Let us handle the numbers, so you can focus on what you do best – growing your business! 🌱

Visit our website and contact us to learn more about our accounting services! 📩

👉 www.taxez.co.uk 👈

🚀 Introducing our FAQ Series! 🌟 Today, we're kicking off with our first question! 🥇

We know you have questions, and we're here to provide the answers. Over the next few weeks, we'll be sharing our most frequently asked questions along with their detailed answers.

❓Today's Question #1:
What business items can I claim for?

HMRC generally allows any expenditure incurred "wholly and exclusively" for the purposes of the business. This means there should be no personal use of the item, and there is no partial expenditure for the proportion of business use. Please click the link below for more details on this rule:
https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim37007

Below is a list of HMRC allowances you may be able to utilise

⭐️Use of Home
HMRC allows a tax-free £6/week payment to employees (including directors) for use of their home for business purposes.

Sole Traders working from home can claim a monthly flat rate based on the number of hours per month they use their home for business purposes. Please click the link below for more details:
https://www.gov.uk/simpler-income-tax-simplified-expenses/working-from-home

⭐️Mileage
Employees (including directors) can be paid, tax-free, 45p/mile for the first 10,000 miles, then 25p/mile thereafter for business miles travelled in their personal vehicle.

⭐️Annual Staff Party
Costs of entertaining your employees (including directors) can be claimed as a business expense where all staff members are invited and the aggregate event costs, including VAT, during the tax year are less than £150 per person (which includes employees and guests of employees).

⭐️Mobile Phone
Where a mobile phone or mobile phone contract is purchased by the business for use by employees (including directors) the cost of the phone/contract is tax deductible.

⭐️Trivial Benefits
Benefits provided to employees (including directors) are tax-free where all of the following apply:
- It cost you £50 or less (including VAT)
- It isn't cash or a cash voucher
- It isn't a reward for their work
- It isn't in the terms of their contract

​You cannot receive trivial benefits amounting to more than £300 in a tax year.

🔍 Stay tuned for our next question! Don't miss out on these valuable insights – follow us to stay updated! 💡

Got a question you'd like us to cover? Drop it in the comments below or send us a DM! We'd love to hear from you! 📩

👋 Hello, wonderful clients and friends! 💫Today I have one of the most frequently asked questions from our FAQs section "Do I need bookkeeping software?" 🖥💭

💸 Unlike other firms, we do not require you to buy or use any bookkeeping software. We know bookkeeping software is expensive, draining to learn and time consuming to use.🤯

🗒 At Taxes, as part of our business package we offer to produce your accounts from your business bank transactions alone, which can be downloaded easily via online banking, then uploaded to our secure document portal. In fact this is our preferred method as it saves you hours of bookkeeping while ensuring your accounts are accurate.⏱

🖥 Even if you are VAT registered (obligating you to follow the Making Tax Digital rules) if you prefer not to wrestle with bookkeeping software, we can file your VAT information to HMRC via our simple spreadsheet available on our 'Software' webpage.📝

📚 ​​If you prefer to use bookkeeping software, we have recommendations on our 'Software' webpage, but we are happy to work from any cloud-based bookkeeping software package of your choice.📲

​📋 If you prefer to use a bookkeeping spreadsheet, we can work from your own spreadsheet, or you can use our simple spreadsheet available on our 'Software' webpage.🖇

💙 Feel free to reach out to us via our page, email us on [email protected], or contact us through our website www.taxez.co.uk/why-us. 📨

👩‍💻Our friendly and knowledgeable team is always ready to assist and ensure that your experience with Taxez is nothing short of exceptional. 📩🌟

Cheapest Online Accountants UK | Accounts £199 UK Based Online Accountants & Tax Advisers. Cost-Effective Services For Small Businesses & Individuals.

📈Affordable online accounting solutions, right at your fingertips! 💻

👀Looking for expert accountants in the UK without breaking the bank? We’ve got you cover! Our team of dedicated professionals is here to help you navigate the world of accounting, all from the comfort of your own home.✅

📩Visit our website and get in touch for a FREE consultation! Link in bio 🔗

📣💰 Hey there, entrepreneurs and small business owners! 📣💰

Struggling with numbers while trying to grow your business? 😩📈 We have the perfect solution for you! Introducing our affordable online accountancy services, with prices starting from just £199 per year! 🌐🌟

Embrace the digital, user-friendly approach and say goodbye to time consuming, costly bookkeeping software. 💻🚀

🎯📊 Here's what we offer: 🎯📊
✅ Lowest prices in the UK
✅ Experienced Dedicated Chartered Accountant
✅ Unlimited advice, to make you tax efficient
✅ User-friendly, document sharing portal

Our goal is to make your life EASY and your bookkeeping SIMPLE with our cost-effective online accountancy services! 🎉😄

Ready to take the first step towards a stress-free experience without breaking the bank? 💪💼

📩 Visit our website and get in touch for a FREE consultation! And let us show you how our affordable online accountancy services can bring you peace of mind and revolutionize the way you handle your numbers! 🌟🌐
www.taxez.co.uk/why-us

Cheapest Online Accountants UK | Accounts £199 UK Based Online Accountants & Tax Advisers. Cost-Effective Services For Small Businesses & Individuals.

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Make Tax Less Taxing with taxez

taxez was launched with a mission to provide superior accountancy and taxation services at a substantially lower cost.

​We are a rapidly expanding UK based firm of online accountants who service businesses and individuals across the UK. As an online firm, our costs are much less than high street accountants. This means our prices are often found to be 75% - 90% lower than our competitors.