Finance and Accounting
Expenses and benefit returns for 2020/21
Expenses and benefits returns P11D and P11D (b) for 2020/21 need to be filed by 6 July 2021. Meeting this deadline is important as penalties
July 23, 2021
Finance and Accounting
Making a negligible value claim
Where assets that have become worthless, it may be possible to make a negligible value claim, allowing a loss to be realised which can be
July 23, 2021
Finance and Accounting
NIC and company directors
Special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities. Why the rules Directors, particularly of personal and
July 23, 2021
Finance and Accounting
Tax consequences of ‘illegal’ dividends
Dividends can only be declared out of a company’s available undistributed profits, and if the payments are to be legal then the correct administrative procedures
July 23, 2021
Is rent-a-room relief always worthwhile?
Rent-a-room relief aims to encourage those with spare rooms in their homes to let them out to increase the supply of furnished rental accommodation. Under
July 13, 2021
New lower SDLT residential threshold
Back in July 2020, the residential stamp duty land tax threshold in England and Northern Ireland was increased to £500,000 to help stimulate the property
July 10, 2021
SDLT Multiple Dwellings relief
Multiple dwellings relief’ (MDR) allows a rate to be charged at the percentage payable on the ‘average value’ price (referred to as the ‘Average Value
July 8, 2021
Limited Liability Partnerships
A limited liability partnership (LLP) is not a partnership but a body corporate with a difference – there are no shareholders or guarantors (as there would be
July 5, 2021
Loans to participators
Where a close company (or LLP) makes a loan (otherwise than in the ordinary course of a business) to an individual who is a participator
July 1, 2021
Expenses and benefit returns for 2020/21
Expenses and benefits returns P11D and P11D (b) for 2020/21 need to be filed by 6 July 2021. Meeting this deadline is important as penalties
June 26, 2021
Making a negligible value claim
Where assets that have become worthless, it may be possible to make a negligible value claim, allowing a loss to be realized which can be
June 24, 2021
NIC and Company directors
Special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities. Why the rules Directors, particularly of personal and
June 23, 2021
Finance and Accounting
Obtain relief for pre-letting expenses
When starting a new property, rental period will usually be a preparatory phase during which expenses will be incurred. To what extent is relief available
June 23, 2021
Finance and Accounting
No retained profits – Can you extract cash to cover your living expenses?
If you operate through a limited company, for example as a personal or family company, you will need to extract funds from your company in
June 23, 2021
Finance and Accounting
Amend your PSA for Covid-19 related benefits
A PAYE Settlement Agreement (PSA) enables an employer to meet the tax on certain benefits and expenses on the employee’s behalf. This can be useful
June 22, 2021
Amend your PSA for Covid-19 related benefits
A PAYE Settlement Agreement (PSA) enables an employer to meet the tax on certain benefits and expenses on the employee’s behalf. This can be useful
June 22, 2021
No retained profits – Can you extract cash to cover your living expenses?
If you operate through a limited company, for example as a personal or family company, you will need to extract funds from your company in
June 21, 2021
Obtain relief for pre-letting expenses
When starting a new property, rental period will usually be a preparatory phase during which expenses will be incurred. To what extent is relief available
June 19, 2021
Furnished holiday lettings
Furnished holiday lettings offer a number of tax advantages over longer lets. One of the key benefits is the availability of capital gains tax reliefs
June 18, 2021
Extracting profits from a property company
Running a property business through a limited company rather than as an unincorporated business may be an attractive proposition; at 19% the rate of corporation
June 17, 2021