Associated company rules – Implications post-1 April 2023
It is eight years since companies had to deal with two tax rates and marginal relief when calculating their corporation tax liability. That system has …
Exceeding VAT threshold temporarily – What can be done?
Most business owners know that VAT registration is a legal requirement should total taxable turnover for the previous 12 months exceed £85,000 or turnover is …
Relief for pre-trading expenses
In setting up a trade it is inevitable that expenses will be incurred before the trade actually commences. Expenses may be incurred on acquiring premises …
Get your overlap relief figure
If you have unrelieved overlap profits, you will not be able to claim relief for those profits after 2023/24. Overlap profits are profits that have …
Dealing with gift hold-over relief ‘nudge’ letters
HMRC are sending one-to-many ‘nudge’ letters to taxpayers who included an invalid claim for gift hold-over relief in their 2021/22 tax return. This may be …
Common NMW errors to avoid
Workers are entitled to be paid the National Living Wage (NLW) or Minimum Wage (NMW) for their age. Employers who fail to do this run …
Separating couples – Importance of checking your child benefit claim
The High-Income Child Benefit Charge (HICBC) is a tax charge that claws back child benefit where the claimant or his or her partner has adjusted …
Extracting profits from a property company
Recent tax changes, in particular the interest restriction for unincorporated property businesses with residential lets, have resulted in more landlords operating via a property company. …
Check your business rates are not too high
Business rates, rather than council tax, are charged on most non-domestic properties, such as shops, offices, warehouses, pubs, factories, guest houses and holiday lets. Business …
Paper version of capital gains tax on UK property return
Where an individual realises a chargeable gain on the disposal of a UK residential property, they must report the gain to HMRC within 60 days …
HMRC’s complaints process
Many taxpayers taxed under self assessment may not be aware that HMRC self assessment phone service was closed for three months, opening on 4 September. …
Alphabet shares
Read this article to find out whether ‘alphabet shares’ would be relevant to your company.
