Tax implications of Covid-19 support payments

Various support payments are available to individuals and businesses to help mitigate the effects of the Covid-19 pandemic. Are the payments taxable and how should they be treated? Payments under…

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As business owners we all want to make sure our company is a great place to work. Have you considered giving your employees or even their family members educational scholarships?

Partnership rather than a limited company. We explain why in today’s blog. Employer-funded scholarships Special tax rules apply to scholarships, which include exhibitions, bursaries or other similar education endowments. Provided…

Continue Reading As business owners we all want to make sure our company is a great place to work. Have you considered giving your employees or even their family members educational scholarships?

Generally, tax relief is available, but the rules are different if you’re a small business using the cash basis…

Tax relief on business-related loans Subject to certain conditions and restrictions, tax relief will generally be available for interest paid on loans to, or overdrafts of, a business in the…

Continue Reading Generally, tax relief is available, but the rules are different if you’re a small business using the cash basis…

Make sure to share this article with anyone you know who runs a family business – so they can take advantage of the many ways to lower their tax bill!

Optimising tax-free benefits in family companies Making use of statutory exemptions for certain benefits-in-kind offers an opportunity to extract funds from a family company without triggering a tax charge. The…

Continue Reading Make sure to share this article with anyone you know who runs a family business – so they can take advantage of the many ways to lower their tax bill!