Essential guides & tips
Managing money & tax
Staying on top of your finances is key to running a successful business. But many new founders lack experience managing complex financial and tax considerations, which can take attention away from growing their business and risk penalties if handled incorrectly. 1st Formations' in-depth guides to managing money and tax explain everything you need to know, including how to manage bookkeeping, pay yourself as a director, file annual accounts, and meet core tax obligations.
Expert tips and guidance on managing your company’s finances and taxes, to help you run a more financially healthy business.
How to pay yourself in dividends and salary as a director
10 minutes read
What is Making Tax Digital?
6 minutes read
Do I need a business bank account?
7 minutes read
How to manage bookkeeping as a small business
11 minutes read
What tax does a limited company pay?
8 minutes read
What expenses are tax-deductible for limited companies?
10 minutes read
How to register for and pay Corporation Tax in the UK
9 minutes read
What is CT600? Understand your Company Tax Return
8 minutes read
How to file your company's annual accounts
10 minutes read
When and how to register for VAT (UK)
12 minutes read
Do dormant companies need to file tax returns?
9 minutes read
What is a UTR number and how do you get one?
14 minutes read
See also
Blogs
How to pay myself from a limited company
The most tax-efficient way to pay yourself from a limited company is to take a small director’s salary through PAYE, supplemented by dividends, while also claiming allowable expenses and utilizing tax reliefs to minimize overall tax liabilities.
Do I need accounting for my small business? Benefits and timings for new founders
Choosing the right accounting support after forming your company can save time, reduce stress, and help your business stay compliant from the start. While hiring a traditional accountant is an option, many new businesses can benefit from the essential accounting services offered by accountants who specialise in the needs of new businesses. This guide explains when you may need professional accounting support, the advantages of using a formation agent for ongoing accounting services, and how early financial guidance can help your business grow with confidence.