VAT flat rate scheme – is it worth it?
The VAT flat rate scheme is a simplified scheme for smaller VAT-registered businesses. While using the scheme will save work, this may come at a …
VAT implications of buying commercial property at auction
VAT implications of purchasing a commercial property at auction are a common occurrence. Although usually the sale or lease of a commercial property is exempt …
When is BIK more tax efficient than salary and dividends? Â
For many years the most tax-efficient method of withdrawing monies from a company by a sole director/owner has been to take salary up to the …
Tax implications of employer-provided vans
Benefits in kind (BIK) are goods and services provided to an employee (or a member of their family or household) for free or at significantly …
The Evolving Role of Company Secretaries in Corporate Governance
In the rapidly changing corporate landscape, the role of the company secretary has undergone a remarkable transformation. Once considered purely administrative, today’s company secretaries are …
Pre-trading loan trap – sole trader v company tax reliefÂ
Many start-up businesses take out loans to get going, e.g. to purchase stock needed to sell, or to make the first rent payment or rent …
Impact of remote work on travel claimsÂ
Post-pandemic, remote work and homeworking have become the norm, especially with the increase in ‘hybrid’ working, i.e., spending part of the week at home and …
ADR – is it worth using? Â
HMRC’s Alternative Dispute Resolution (ADR) process was introduced over a decade ago, the intention being to provide an ‘alternative’ cost-effective method for dealing with disputes …
Making Tax Digital – latest update
Nearly ten years ago in March 2015 the then-Chancellor George Osborne announced a government initiative setting out a vision for the ‘end of the tax …
Can you have too much cash?
While having more money in your bank account than is needed may seem ideal, for director shareholders of a company with surplus cash, it could …
VAT – the partial exemption ‘trap’
If a VAT-registered business has taxable income only (including zero-rated sales), it is entitled to full input tax recovery on its expenses, subject to the …
Tax implications on home office
Following the pandemic, flexible working hours are on the increase. This shift has provided many employees with the legal right to request flexible working from …
