Helpful information on income and corporation tax relief when deciding to shut down a business

Terminal loss relief Sadly, not all businesses will survive the Covid-19 pandemic, and many may take, or be forced to take, the decision to close where losses make the business…

Continue Reading Helpful information on income and corporation tax relief when deciding to shut down a business

Tax is always changing, and entrepreneur’s relief is no exception. The £10 million lifetime limit is to be reduced to £1m for disposals on or after 11 March 2020 – read the latest update here.

ER but not as we know it The Spring Budget 2020 announced a significant restriction on future availability of entrepreneurs’ relief (ER) for individuals who dispose of all or part…

Continue Reading Tax is always changing, and entrepreneur’s relief is no exception. The £10 million lifetime limit is to be reduced to £1m for disposals on or after 11 March 2020 – read the latest update here.

Closing a business can be a difficult time. Be tax efficient with this beneficial liquidation strategy.

Closing a business – when a member’s voluntary liquidation is beneficial Although it is possible to strike off a company and for distributions made prior to dissolution to be treated…

Continue Reading Closing a business can be a difficult time. Be tax efficient with this beneficial liquidation strategy.