If you own a limited company, contributing to a pension can bring significant tax advantages. Pension contributions can be treated as an allowable business expense and offset against your company’s corporation tax bill.

Treat yourself or your family to tax-free wine or gifts, courtesy of HMRC's Trivial Benefits Exemption.

 As a director of a company, the exemption allows you to receive occasional, individual ‘benefits’ of £50 or less, totalling a maximum of £300 each year. These benefits can be purchased for members of your household too.

A benefit could include wine, gift vouchers, flowers, jewellery, electronic items or perhaps video games for the kids.

Congratulations on incorporating your new company!

Starting a business is exciting, but it can also feel overwhelming. With so many things competing for your attention, it's easy to overlook some of the practical tasks that will save you time, money, and stress later on.

To help you get off to a great start, we've put together 10 important things every new limited company should do.