COMPANY LAW - 07.07.2020
Could your business be wound up?
A business published educational booklets for schools on topics such as bullying, knife crime and online safety. It was wound up in the public interest in June 2020. Why, and what lessons can you take from this case?
PROFIT EXTRACTION - 22.06.2020
Selling your company - break it up to save tax
You’ve found a buyer for your business. They don’t want to buy the company itself, only its assets. You’ve been told that this can increase the tax you’ll have to pay on the sale. How can you make the arrangement more tax efficient?
COMPANY LAW - 03.02.2020
Do you have a conflict of interest?
Directors can be allowed to act even if they have a conflict of interest, but the correct procedures must be followed. It’s important to get this right, as transactions can be overturned and directors held personally liable. So what do you need to know about conflicts of interest?
BUYING A BUSINESS - 27.11.2019
Avoiding a dud business
You’re expanding your company and considering making your first acquisition. How can you make sure the business is everything the seller says it is and what specialist advice should you seek to protect your position?
CAPITAL GAINS TAX - 02.10.2019
Selling your business - tax traps to avoid
You’re selling your business and as part of the deal you’ll stay on in a managerial role for three years. You’ll then be paid an additional sum based on the profits made over that period. How should you structure the payment to avoid tax traps?
TAX - COMPANY TAX - 04.09.2019
Q&A - getting rid of a defunct company
Q. A year ago I formed a company to run a new project but unfortunately the business never materialised. Can I get rid of the company without getting an accountant involved? A. Yes, as long as the company has no assets and hasn’t been active in the last three months you can apply to Companies House to have it struck off. There’s no requirement to produce accounts. If the company has been allocated a corporation tax number you should also contact HMRC (see The next step ). Simply send a letter explaining that the business never traded. However, if it has traded but made no profit HMRC will usually accept informal accounts which you can produce. ...