Running a business - Tax & NI

Recently added Tips & Advice

COMPANY SALE - 22.10.2020

Selling the company: taxing the consideration correctly

One of your clients has built up their trading company from scratch. They have received an offer for their shares which they are keen to accept, but the purchaser is proposing to issue loan notes as part of the consideration. What do you need to advise?
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PRIVATE RESIDENCE RELIEF - 22.10.2020

Buying property in stages: a risk to tax relief?

Property purchase is an area in which HMRC is taking more interest and transactions that look out of the ordinary may attract unwelcome compliance attention. Why do clients buying multiple properties in stages run a particular risk?
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CORONAVIRUS - TRADING LOSSES - 22.10.2020

Don’t miss opportunities to claim now

Coronavirus is likely to have hit clients harder in 2020/21 than in the previous tax year. However, how can you ensure they maximise tax reliefs as soon as possible?
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MAKING TAX DIGITAL - 22.10.2020

Making Tax Digital: what’s coming next?

Over the summer of 2020 the UK government finally committed to the next step of the Making Tax Digital (MTD) rollout. There is a lot of information to communicate to clients. What are the key points?
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LOSSES - 22.10.2020

Can losses be transferred to a new company?

A loss-making client of yours is in the process of introducing new shareholders as part of a turnaround plan. The shareholders wish to start afresh and transfer the trade to a new company. Can the historic trading losses be transferred along with the trade?
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EXPENSES - 21.10.2020

The tax-free benefits of business travel

Handling your employees’ travel expenses claims is time consuming and the tax and NI requirements can be tricky. The good news is that the process can be simplified by paying flat rate tax-exempt allowances. What are they?
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Running a business - Tax & NI

Most read Tips & Advice

NATIONAL INSURANCE - 08.09.2020

New NI break for employers

NI holiday. Following up on an election promise the government has proposed that from 6 April 2021 employers who take on former members of the armed forces will not have to pay employers’ NI contributions on their wages for twelve months. For example, this would save an employer around £2,250 based on an annual salary of £25,000. The exemption will be limited to the NI upper earnings threshold, currently £50,000 per year. Normal NI rates would apply to pay in excess of that. ...
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CAPITAL GAINS TAX - PROFIT EXTRACTION - 08.09.2020

Small business incorporation - minimising tax without BADR

Your business is growing steadily and your accountant has advised you transfer it to a company to save income tax. For maximum tax efficiency should you do this immediately or delay?
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PROFIT EXTRACTION - 22.09.2020

Don’t pay the wrong kind of dividend

The director shareholders control a company’s dividend payments but the rules that determine when they are taxable vary depending on the type of dividend. How can you ensure they are taxed at the right time for maximum efficiency?
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