For small companies, obtaining tax-efficient funding involves leveraging various schemes and incentives that minimise tax liabilities while maximising capital inflow. These schemes are designed to …
VAT applies to taxable supplies made by a VAT-registered person whether an individual or a company. VAT-exempt supplies in the UK are goods and services …
HMRC has not been getting good press lately. Time spent waiting for a tax refund, an answer to a letter or for over an hour …
Introduction Taxation can be a complex and overwhelming aspect of running a small business. However, with the right knowledge and strategies, you can minimise your …
Many directors believe they have an absolute right to monies deposited in a company’s bank accounts. However, payment cannot just be withdrawn as there are …
With interest rates falling, business growth should follow. While this is waiting to happen, companies continue to close. The latest statistics published by the Insolvency …
Just because an employee receives a lump sum on leaving does not necessarily mean the payment is exempt from tax under the £30,000 exemption for …
When an unincorporated business stops trading, accounts are prepared to the date of cessation. Where a limited company ceases trading, it is either registered as …
The ‘tax gap’ is a phrase that has been around for almost twenty years and refers to the difference between HMRC’s expected tax revenue and …
Partnerships exist in either ordinary format or as limited liability partnerships (LLP). An ordinary partnership is legally defined by the Partnership Act 1890 and is …
To be allowable as a tax deduction whether under the corporation tax or income tax rules, most expenses must be incurred ‘wholly and exclusively for …
VAT can be confusing at the best of times, with the reverse charge being arguably one of the more complex applications. It does not help …
