Lending from one company to another – Can interest be charged?
With relatively low interest rates on cash deposits, some companies are looking to invest their spare cash elsewhere, especially if investing in the company’s own …
Company paying for fuel – A useful benefit?
Having the company pay for all your fuel might seem like a major perk. However, whether it is truly a valuable benefit depends on a …
Would growth shares benefit your company?
Today’s business world is increasingly competitive. In order to survive and grow, a business needs to retain talented personnel. While benefits such as medical insurance …
The powers of HMRC’s debt collection department
HM Treasury’s recent ‘Policy Costing Document’ published to accompany the 2024 Autumn Budget contained two sentences which appear to have gone d by many financial …
VAT reclaim – When things don’t go to plan
Even the best laid plans are liable to change. The ‘payback and clawback rules‘ for VAT reflect this reality. These rules only relate to input …
Directors’ loan accounts – The 30-day rule
Interest rates are coming down, but HMRC’s official rate of interest (ORI) for employee loans has increased to 3.75% per annum (6 April 2025), and, …
Credit notes or VAT bad debt relief claim – which?
Bad debts pose a significant challenge for every business. Staying on top of non-payments is essential for maintaining a healthy cash flow and ensuring the …
The tax consequences of not repaying an ‘illegal dividend’
Dividends can only be declared out of a company’s available undistributed profits and even if the bank account is in credit as at the date …
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 …
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 …
