Tools to help you run your business

A pencil drawing of an open toolbox. Three trays are cantilevered out, each holding measuring instruments, and a clock is mounted inside the lid.
Deadlines
01Your filing deadlinesAll the filing deadlines you need to add to your calendar
Running the business
02Can you afford to hire?The salary is about 70% of what they cost you. 03The VAT threshold ambushPast £90,000 you can earn more and keep less.
Tax
04Salary, dividend or pension?What four ways of paying yourself actually leave you. 05Corporation tax19%, 25%, and the band where it is neither. 06Dividend taxWhat a dividend costs you once your salary has used the bands. 07SEIS and EIS reliefWhat your investor gets back after relief. 08What you can claimEvery allowable expense, with the HMRC reference for each one. 09Working from homeMaximise what you can claim.

Frequently asked questions

Can I just take money out of the company bank account when I need it, and sort tax later?

Money taken that is not salary, dividend, or a genuine expense repayment is usually a director's loan. You must keep a director's loan account. If you are a shareholder-director and the loan is still outstanding 9 months after the end of the accounting period, the company generally pays a Corporation Tax charge (currently shown on GOV.UK as 33.75% of the outstanding amount for loans made on or after 6 April 2022). Loans over £10,000 can also create a benefit-in-kind and Class 1 NIC. This is one of the fastest ways founders create unexpected tax.