Business Funding Axis Capital Group Jakarta Review: Plan Early When Incorporating a Business

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Carlene Roseburg in Milano, Italy

35 months ago

Tax tips: Plan early when incorporating a business to maximise tax relief on goodwill valuation

For businesses operating as partnerships, LLPs or sole traders, there are a number of tax advantages to incorporating into a limited company which can result in a significant reduction in the overall the rates of tax.

The profits of partnerships, LLPs and sole traders are all taxed directly on the business owners according to their rates of income tax, which are often as high as 45%, plus national insurance contributions.

By contrast, companies pay corporation tax on their profits, with directors being remunerated with salaries and benefits in kind, and shareholders able to share in profits through the payment of dividends. Companies having profits of less than £300,000 have been subjected to corporation tax at the rate of 20% since April 2011 (previously 21%), and with effect from April 2015 all companies, irrespective of profit levels, will pay corporation tax at this rate.

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Whitney J. Miller in Buenos Aires, Argentina

32 months ago

Thank you for the reminder. I am planning to venture into my own business since I have grown tired of being someone else’s employee. I plan to be my own boss and I still have a lot to consider.

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Veronica Ray in Albania

32 months ago

I am looking for a good company for my business loan needs. I have read some good reviews about you. Can you please help?

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Stefany Arrowood in Sydney, Australia

32 months ago

I am very grateful for this information. I bake as a habit and only receive orders from friends and families. My best friend had told me that I should expand my business and build my own bakery or cake shop. I do not know much about these business taxes and whatnot. I just don’t know where to start since I am not a very risky person and so afraid of fraud or scams.

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Sun Tan in Taiwan

32 months ago

Tax is one of big deals to consider in starting a business. It is important to file your income to avoid being sued.

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yajairasilva in New York, New York

32 months ago

Please continue to create blogs like these especially for new business owners or for those who are just starting to have one. It is really helpful. Thank you!

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