Understanding Value Added Tax (VAT) for UK Amazon Sellers
Once you’ve crossed an annual turnover of £85,000 within the last 12 months, you must register for VAT with HM Revenue and Customs (HMRC), but what’s next? Find out how much to charge and how to reclaim VAT.
Form P50: Get Your Money Back Before the End of the Tax Year
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.
All Filing Requirements & Deadlines for a Small Business in the UK
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?
Selling Your Business? Entrepreneurs’ Relief Helps to Pay Less Tax
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.
How to Legitimately Reduce Your Corporation Tax
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.
VAT Returns and Making Tax Digital (MTD) in the UK
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.
Capital Gains Tax for Individuals in the UK
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.
Taxes for UK Business Owners: 2019/20 Tax Rates, Thresholds & Allowances
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.
P11D Form: All You Need to Know If You End up Googling It
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.
PAYE & Tax Reference Numbers: Don’t Let These Codes Confuse You
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.
P60 Form: What Is It and How to Deal with It?
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.
A Guide to Covid-19 Relief for UK Businesses
The announcements and updates might be overwhelming to keep up with. Start here.
Just for Startups: Grants, Incentives & Tax Reliefs
Startups are at the heart of the UK economy, so know that you’ll never walk alone with the government supporting you through grants, and tax incentives.
What You Should Know About Changing Your Company’s Registered Office Address
If you’ve ever wondered what the administrative things you need to do when you move offices, read on.
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Getting Ready for Post-Brexit Product Liability Rules from Jan 2021
Wondering how to protect your business from product liability claims after Brexit? Find out what Chris Salmon of Quittance Legal Services has to say.
Osome Raises Fresh Funds of US$3m From XA Network and AltaIR Capital
The funds will help Osome serve its clients in accounting and corporate services through automation by building capabilities in engineering and product development.
What to Do if you Need a Nominee Director for Your Company
Find out what you need to know if you need a nominee director, along with their roles, and what could go wrong in the process to avoid mistakes.
Corporate Secretary: What Are Their Roles and Do You Need One?
After incorporating your company, you could benefit from having a corporate secretary around. Find out if you really need one.
How to Decide Which Company Structure to Choose
A useful guide to help you compare the pros and cons of a Sole Trader, Partnership, LLP, and Ltd.
5 Things to Consider When Setting up an E-Commerce Business in UK
While starting an online venture can potentially be a rewarding business option, it involves more than just setting up a website and getting started on sales. Here are things to consider from the administrative side of setting up your business.
Everything You Wanted to Know About EBITDA Explained by an Investor
How to calculate EBITDA and, most importantly, why? A practicing financial analyst and investor Dan Satkunas explains how to assess business decisions based on EBITDA margin—and makes it all look quite interesting.
Director’s Duties, Responsibilities and Liability Under English Law
Being a director, although prestigious, entails a lot of rules to play by, and mistakes can result in serious penalties. This article written by a practicing lawyer will help you understand the rules and decide if you want to take the director’s chair.
How Accounting Is Different from Bookkeeping?
In short, bookkeepers record transactions of your company, then accountants summarise, interpret and report them. We explain who needs both specialists and why a bookkeeper can't substitute an accountant.
2,000 Osome Clients
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!
Osome Becomes Xero’s Gold Partner
Osome has received the gold partner status from Xero, a cloud-based accounting software platform. With only 30 Singapore companies holding this title, Xero recognizes Osome expertise in bookkeeping, accounting, and taxation.
Big Ben, Victoria Peak, and $3 Million
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.
Osome Becomes Xero Platinum Partner in Just 3 Months
Xero, the global small business platform, awarded Osome with a platinum partner status. This is the highest level of recognition that Xero offers to their counterparts, with only 3 other companies in Singapore holding the title.
How Saying “No” Can Become Your Superpower in Every Negotiation
Compromise ruins negotiations. The win-win approach ruins negotiations. What doesn’t? Saying “no” whenever it needs to be said. This is the essence of Jim Camp’s theory. The 4 rules he put forward will help you feel confident and seize opportunities inside and outside the conference room
How to Regulate Your Relationship with a Business Partner under English Law
Whoever is becoming your partner, an old friend, your wife, or an investor, you'd better agree on how your partnership will work before you start doing business. We explain what to pay attention to and how legal documents can help.
Tools to Keep Track of Your Startup Finances: P&L and Cash Flow
Running out of cash is a Number 2 reason for startup failures. So how to avoid cash disappearing into the void? Even if you are bad with numbers and find mathematics exhausting, you can use two simple tools to organise your finances: P&L and Cash Flow statements.
How Can a Foreigner Open a Business Bank Account in the UK?
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.
Form P50: Get Your Money Back Before the End of the Tax Year
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.
What is Business Mileage and Who Can Claim It?
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.
All Filing Requirements & Deadlines for a Small Business in the UK
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?
Selling Your Business? Entrepreneurs’ Relief Helps to Pay Less Tax
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.
How to Legitimately Reduce Your Corporation Tax
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.
VAT Returns and Making Tax Digital (MTD) in the UK
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.
Oops, I’ve Overpaid an Employee
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.
Confirmation Statement: Everything You Need to Know
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 for Individuals in the UK
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.
Taxes for UK Business Owners: 2019/20 Tax Rates, Thresholds & Allowances
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.
What is a UK Company Registration Number?
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”.
P11D Form: All You Need to Know If You End up Googling It
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.
PAYE & Tax Reference Numbers: Don’t Let These Codes Confuse You
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.
P60 Form: What Is It and How to Deal with It?
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.
How to Use Companies House Services, aka Companies House Beta
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.
What Investors Want to Hear at Your Pitch
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.
Osome Attracts $2 m Investment To Develop And Expand
The funding will support new product development and reaching new markets, including Hong Kong and Australia
1,000 Osome Clients: The Osome Community is Growing
Today we celebrate our first 1,000 clients. Thank you for choosing us to be your guide in Singapore Business Administration.
How to Start a Business in Singapore from the United Kingdom?
Singapore taxes are low, company formation for foreigners is easy, and a foreigner can own 100% of a Singapore business. If you decide to move, the quality of life is high.
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