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Finance & Accounting>Finance & Accounting

Are you trading?

Trading income is taxed for both income tax and corporation tax purposes. In order for a tax charge to arise under the trading income rules,

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Finance & Accounting>Finance & Accounting

SDLT and uninhabitable properties

For many the lure of a renovation project is strong and for those looking to generate rental income, doing up a dilapidated property to let

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Finance & Accounting>Finance & Accounting

Stamp duty land tax refunds

The additional stamp duty land tax (SDLT) rate of 3% is payable by purchasers of residential properties costing £40,000 or more and if all of

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Finance & Accounting>Finance & Accounting

Making mileage payments to employees

As the country emerges from the Covid-19 pandemic, business travel is once again on the agenda. Where employees undertake business travel, they will usually be

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Finance & Accounting>Finance & Accounting

Do I need to register for VAT?

You must register your business for VAT if your VAT taxable turnover exceeds the registration threshold. This is currently £85,000. You must register if: at

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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

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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

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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

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