The tax position when partners do not receive the profit share they are allocated
In a partnership, the activities are considered to be conducted by the individual partners rather than the partnership itself, as a partnership is not a …
Temporary staff and auto-enrolment
Employers have a duty to enrol eligible staff in a pension scheme. Staff are eligible if they are aged between 22 and state pension age …
What happens to your estate if you die intestate?
In an ideal world, everyone’s estate would be distributed according to their wishes. However, where someone dies without making a will, who gets what is …
Tax-free trivial benefits
The tax exemption for trivial benefits is a useful one as it allows employers to provide certain low-cost benefits to employees without an associated tax …
Correcting errors in your VAT return
It is easy to make mistakes when completing your VAT return. However, where mistakes are made, it is important to correct them. This is fairly …
Tax implications of writing off a director’s loan
Personal and family companies often make loans to directors. However, there can be tax and National Insurance implications of doing so. Where the loan remains …
Take advantage of the property rental toolkit
HMRC publish a property rental toolkit which can be used to avoid making common errors when reporting income from property on the Self-Assessment tax return. …
Tax implications of failing to pay rent on a property held in a SIPP
Using a Self Invested Personal Pension (SIPP) to hold commercial property which can be rented to your personal or family company can be beneficial. Instead …
Relief for post-letting expenses
All good things come to an end, and a property rental business is no exception. However, post-letting expenses may be incurred in relation to that …
Too much cash in the company?
Although many companies are facing difficult times, some have managed to accumulate a sizeable amount of cash in their business’s current account. Leaving this cash …
HMRC has methods of collecting outstanding taxes
Tax bills need to be paid on time; otherwise, interest and possibly penalties will accrue. HMRC is amenable to payment by instalments under the Time …
Can any expenses be claimed if you visit a client on business during holiday?
The hot weather often brings thoughts of holidays, but for those in business, work is always on the mind. So, what is the tax position …
