We are an independent accountancy practice based in the heart of Norwich city centre. The company was incorporated on 18 April 2011 and following a change in name and subsequent rebranding, Perk Accounting Limited was born in April 2019.
All businesses with employees must run a PAYE scheme in accordance with HMRC legislation and offer a workplace pension scheme in accordance with the Pensions Act 2008, meeting your obligations as an employer. Payroll is an area of business where red tape and compliance are paramount, resulting in payroll submissions being time-consuming, complicated, and repetitive.
Corporation tax is payable by businesses in the UK and is calculated and assessed on its annual profits. The corporation tax rate has been 19% since April 2016, and future rate changes will be announced annually within the Government budget. Companies do not receive tax free allowances and therefore, all profits are taxable. However, there are several deductions and expenses that you can claim to reduce your liability.
The Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS) are two of many UK government initiatives encouraging innovation by granting a tax break to private investors when investing in the early stages of a business. SEIS and EIS offers outside investment as a form of finance to benefit both the investor and the business. Investors benefit from tax relief and an equity share in the business, whilst the business gains a cash input to cover operating costs and fund future projects.
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