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Excel tool to compare Self employed vs Ltd company taxes

2025-07-04 2025-26 Self-employed-vs-ltdDownload

Please drop me an email if you find any errors or wish to suggest any improvements.

Calculator Disclaimer

Anyone can use this calculator free of charge. The results provided by this calculator are for informational purposes only and are not intended as financial, legal, or professional advice. While we strive to ensure the accuracy and reliability of the calculations, we make no guarantees regarding their correctness or applicability to your individual circumstances.

By using this calculator, you acknowledge and agree that any reliance on the results is at your own risk. We recommend consulting with a qualified professional before making any decisions based on the information provided.

Roy Accountants Ltd is not liable for any losses or damages arising from the use of this calculator or the information it generates.

Excel template to work out reduced (tapered) annual allowance for pension.

2024-11-01-amit_pension_saving_chargeDownload

HMRC guidance is not very clear. To tackle this issue we made a excel template which you may find useful.

If you are carrying forward allowances from past years use HMRC Calculator from HS345 Pension savings — tax charges.

Please drop me an email if you find any errors or wish to suggest any improvements.

Cyber security for a small business

Simple Action points for cyber security

1. Activate Multi factor authentication (MFA) for your emails and any other application where available.

Once added it will stop your desktop applications using your email server to send out emails, so you will need to `Add passwords for Apps`. See example via [link].

You can use a Authenticator app like `Microsoft Authenticator` to generate OTPs. This one Authenticator app can generate OTPs for several applications. Its better to use an Authenticator app instead of SMS codes as SMS codes can be intercepted via a SIM Swap scam.

2. Add a computer login password.

3. Add a login password or pattern on your phone.

4. Prepare for a scenario if you lose your phone.
a) Ensure to activate cloud back-up, this will help to restore all services on the new device.
b) `Find my device` is automatically activated for android phone, familiarize yourself with the service. This will help in locking and wiping out all your data remotely on the lost device.

5. Install latest updates as soon as you receive a notification.

6. Ensure to download applications from official app store or a trusted source/website.

7. A free tool to check your cyber security from `National Cyber Security Centre` a UK government organization.

8. Use `National Cyber Security Centre` guidance for SMEs.

9. Use Cloud services like Google drive this will backup your data automatically.

10. Use Cyber Toolkit from `National Cyber Security Centre`.

Taxation of Crypto assets

This article deals with `exchange tokens` like Bitcoins, not with assets like NFTs or stablecoins. It is written for Individual tax payers.

HMRC does not treat Crypto as currency or money1.

Most common scenario is of an individual investing in Crypto optimistic for an increase in its value. Any gains or loss in such a case is treated similar to investment in shares. Rules such as pooling, same day and 30-day2 apply even if crypto held in different exchanges9.

Please note sale of crypto takes place even if it is exchanged for another crypto asset, it is used to buy goods/services or given away to a person (not their spouse)8.

International matters

Gains need to calculated in pound sterling3.

Location of asset – In HMRC’s view, exchange tokens are located where the owner is tax-resident. This rule will be of importance to remittance basis users, as their crypto gains will be taxable even if they do not remit funds to the UK4.

Other taxes

Stamp duty – not applicable5.

VAT – not applicable. But if a trader sells goods or services in exchange of crypto assets, the trader will need to charge VAT6.

Loss

In case of fraud – HMRC does not consider theft as a sale, a negligible value claim can be made7.

In case of loss – similar treatment as in case of shares. Three things to be aware of:

  1. Capital losses will be adjusted against gains in same year.
  2. Carry forward indefinitely and adjust against first available gains.
  3. Cannot be carried back except in case of death.

Disclosure service

HMRC has launched a cryto disclosure service for individuals who may have not paid the correct amount of tax in past tax years.8.

Notes:

  1. CRYPTO10100 means loan relationship rules do not apply.
  2. TCGA 92 sections Pooling (104) Same-day (105) 30-day (106A)
  3. CRYPTO40100
  4. CRYPTO22600
  5. CRYPTO44100
  6. CRYPTO45000
  7. CRYPTO22450
  8. Check cryptoasset disclosures, HMRC tells taxpayers | ICAEW
  9. Share and securities matching rules apply to assets which are fungible assets i.e. assets which are not individually identifiable. Tolley annual CGT book 64.2

Further readings: