Osome UK Blog contains information that helps to run a business in the UK more efficiently: save on taxes, prevent fines, and use the rules to your advantage
A collection of 21 posts
Can a foreigner open a business bank account in the UK? Yes! Nothing stops UK banks from opening business accounts for non-residents. We look at your options if you don’t want to buy or rent property and compare the bank tariffs for you.
If you overpay your taxes and you don’t get any taxable income for 4 weeks, you can contact HMRC and claim your refund straight away. That is what P50 is for. We look into the process and give tips on how to make things happen.
If your employees drive back and forth for business purposes, it’s a business-related expense. Thus, employees can claim petrol money back, and the firm can deduct these reimbursements from its taxable income. In the article below, we break down the latter — the so-called business mileage claim.
As a limited company director, you have to keep 2 government agencies informed about your business: HMRC and Companies House. There are various forms and payments to take care of, and different filing timelines do not make it any easier. Let us glue all the pieces into a single picture, shall we?
Entrepreneurs’ Relief (ER) allows you to pay less tax when you sell your company. ER is great for those unhappy with where their startup is going but unwilling to give up on their entrepreneurial career. ER can save some money and also bring enough funds to start a new business from scratch.
You can take advantage of the legitimate ways to reduce your corporation tax, such as claiming expenses, paying yourself a salary, and spending profits. We explain each step with examples and show how you could reduce the tax you owe more than by half.
Osome announced a $3 million financing led by Target Global. The new investment will help expand its technology platform to the UK and Hong Kong, and already started testing these markets.
VAT returns in the UK have been moved online — from 2019, Making Tax Digital system is in force for it. We explain how to deal with it and what the deadlines are.
On a settlement day you understand that you paid too much to one of your employees last month. Or the employee comes to you and awkwardly says that they have been receiving way more money than the employment contract requires. How to solve any overpayment? Here are the answers.
The confirmation statement is a document that must be filed by every limited company and limited liability partnership (LLP) at least once a year. If you don’t follow deadlines when filing the confirmation statement, your company might be closed, so let’s have a closer look at the requirements.
Capital Gains Tax is imposed when an asset that increased in value is sold. Let us look at cases when you do and do pay this tax, the rates and how they apply to you.
Small business owners face double responsibility when paying taxes: they account both for themselves and for their companies. It is tiresome to keep up with the shifting tax rates, tax bands and allowances, so here is a guide for a private limited company owner to survive the 2019/2020 tax year.
CRN is an important and unique way to identify your company as a legal entity. Also known as a business registration number, UK company number or a registered company number, you’ll find that the most common abbreviation used is “CRN”.
The P11D form is a part of the UK payroll system that covers the benefits an employee gets. How and when to fill in the form, what the deadlines are and how to avoid any fines — Osome is here to guide you through all of it.
Your company has several numbers and codes that go on official documents. Different HMRC departments issue them to identify your company. Let’s figure out which one means what.
The P60 form is a part of the UK payroll system that features tax payments and National Insurance contributions of a certain employee. We look deeper into the nature of the document.
Companies House is an online service to check all data about businesses registered in the UK. So, let’s find out how many companies Richard Branson directs and what is the P&L of Tiffany & Co.
Talking someone into giving you money is hard, especially if we are talking millions. Osome Blog asked 3 founders who succeeded, 1 startup scout and 1 product lead to share their experience. Here’s what they told us.
It took us 15 months to grow the first 1,000 clients. Now, only six months later, another 1,000 business owners joined us. Thank you for trusting Osome!
The funding will support new product development and reaching new markets, including Hong Kong and Australia