BUSINESS
Research & Development (R&D)
A study by an independent organisation concluded recently that there was approximately £84 billion in unclaimed research and development relief. Consequently, I am seeking to...
Advisory Fuel Rates from 1 September 2019
HMRC has published the Advisory Fuel Rates from 1 September 2019, which apply to company car drivers for mileage reimbursement. These rates are reviewed quarterly to reflect...
Director’s and personal tax returns
For years HMRC insisted that a director must register for self-assessment and complete a tax return even if there was no income to report. This was not a legal requirement,...
Directors’ overdrawn loan accounts and section 455 tax
If a director’s loan account has been repaid and the previous section 455 tax can be reclaimed (25% of the amount ‘loaned’ up to 5 April 2016, 32.5% from 6 April 2016) there...
Use of company assets
Use of Company Assets and Tax Implications – What You Need to Know Having access to company assets, such as helicopters, private aircraft, or other valuable assets, may seem...
P11D deadline approaching!
6 July 2018 is the deadline for employers to submit forms P11D detailing any benefits in kind received by their staff in the 2017/18 tax year (such as private medical...
So what is Making Tax Digital?
What is Making Tax Digital (MTD) all about? Hopefully by now everyone will have heard of MTD, and have a rough idea of what this means. This article serves to provide a bit...
Are you aware of the recent changes to the taxation of termination payments?
There is a common misconception that the first £30,000 paid to an employee on the termination of their employment is free from income tax...
To incorporate or not incorporate? That is the question!
In recent years the changes to the UK tax system have become more complex having had a period of stability under the previous Labour administration and one of the recurrent...
EMI Share Schemes in Limbo
One aspect of EU membership is that member countries cannot offer their resident taxpayers advantageous tax treatment, unless they get permission from the EU to do so. This...
Disincorporation relief – What makes a qualifying transfer?
The transfer of a business out of a company will be a ‘qualifying transfer’ for the purposes of Disincorporation Relief if it meets all of the following conditions: The...
Reduction in dividend allowance from 6 April 2018
Did You Know About These Dividend Allowance Changes? From 6 April 2018, the Dividend Allowance will reduce from £5,000 to £2,000. This change affects shareholders who receive...