Premier Accounts Blog

What is a PSC?

by | Sep 17, 2024 | Corporate Governance & Regulation

PSC stands for Person with Significant Control. It is a legal term used primarily in the United Kingdom under company law. A PSC is someone who holds significant influence or control over a company.

Claims to reduce payments on account

by | Sep 12, 2024 | Income Tax

Self-assessment taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on 31 January during the tax year and 31 July

Myths about self-assessment

by | Sep 12, 2024 | Income Tax

In a recent press release, HMRC addressed some common misconceptions about who needs to file a self-assessment return before the 31 January 2025 deadline and clarifies some of the most widespread

MTD for Income Tax draws closer

by | Sep 12, 2024 | Income Tax

The mandatory rollout of Making Tax Digital for Income Tax (MTD for ITSA) is scheduled to begin in April 2026. The process will significantly adjust how businesses, self-employed individuals, and

Employing an apprentice

by | Sep 12, 2024 | Employment & Payroll

There are special rules to observe when employing an apprentice in the UK. Basically, an apprentice takes part in a structured training program that combines working with studying. Apprentices gain

There is a basic principle that dividends or other distributions must not be paid out of capital even if the Articles of a company authorise such a payment. For the purposes of this article, reference

Higher rates of SDLT on residential property

by | Sep 12, 2024 | Stamp Duty Land Tax

The higher rates of Stamp Duty Land Tax (SDLT) were introduced on 1 April 2016 and apply to purchases of additional residential property such as buy to let properties and second homes. The higher rate

Beware overtrading

by | Sep 9, 2024 | Business Support

Overtrading occurs when a business expands its operations at a pace that exceeds its available working capital and financial resources. This can happen when a company takes on more business than it

Ask for advice

by | Sep 9, 2024 | General

Asking your accountant for advice offers a range of benefits, particularly in guiding both business and personal financial decisions. Here are some key advantages:

Expert Financial