Charging interest where a director’s loan account is in credit
A director’s loan account (DLA) is an accounting record that tracks funds owed by a company and its individual directors. Usually, a DLA will be …
Can a director become liable for unpaid corporation tax?
Directors of limited companies are generally not personally liable for unpaid corporation tax as limited liability usually protects them. A company is a separate legal …
Using the business to pay school or university fees
For owner-managed business to pay school or university fees through the company can appear attractive, especially if the company has surplus cash. However, tax consequences …
Section 455 tax and the change in the dividend upper tax rate
In personal and family companies, director shareholders often borrow money from the company. Where a company is close, as most personal and family companies are, …
APR and BPR and the £2.5m allowance
From 6 April 2026, the 100% rate of agricultural property relief (APR) and business property relief (BPR) is only available on the first £2.5m of …
Taking a dividend before 6 April 2026
As the tax year draws to a close, directors of personal and family companies should consider whether it is worthwhile taking a dividend before 6 …
Are you paying sufficient National Insurance for a full state pension?
State pension entitlement depends on a person having sufficient qualifying years, which in turn depends on them having paid or been treated as having paid …
Five year-end tax planning tips
As the end of the 2025/26 tax year approaches, it is a good idea to undertake a financial review and assess whether there is any …
Keeping digital records for MTD
One of the key requirements under Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) is the need to keep digital records for MTD, …
Jointly owned properties and MTD
Unincorporated landlords who had combined property and trading income in 2024/25 of £50,000 or more must comply with Making Tax Digital for Income Tax Self-Assessment …
Business rate changes ahead
From April 2026, many businesses may find that their business rate changes. This is as a result of the revaluation of properties for business rates …
Disincorporation of a companyÂ
In the not-too-distant past, incorporation was synonymous with automatic tax savings. However, successive governments have eroded these tax benefits. With additional administration and costs, many …
