Telling HMRC that you have no corporation tax to pay
If you have a company that is dormant and you have filed your company tax return showing that no tax is due, you may think
If you have a company that is dormant and you have filed your company tax return showing that no tax is due, you may think
If you have a personal or family company, taking dividends is a popular and tax-efficient way to extract profits. However, while they remain tax efficient,
Most directors know that as of 1 April 2023, companies with taxable profits in excess of £250,000 will pay corporation tax at the main rate
As well as a mechanism for collecting revenue, the tax system is also used to encourage certain behaviours and discourage others. Once example where this
In a climate of interest rate hikes and rising mortgage rates, property investors will want to ensure that they do not miss out on tax
The Chancellor’s recent mini-Budget and subsequent U – turns threw a number of spanners into the works as far as profit extraction strategies are concerned.
If you operate your business as a personal or family company, you will need to extract some or all of the profits if you wish
Tax changes in recent years to the way that unincorporated landlords are treated for tax purposes, particular in respect to relief for interest, have resulted
Although Family Investment Company’s (FIC) have been around for several years, awareness of the flexibility that such a vehicle affords has been growing in recent
The corporation tax rules are changing from 1 April 2023, and the amount that a company will pay will depend on the level of its
Corporation tax is being reformed and companies with profits of more than £50,000 will pay corporation tax at a higher rate than they do now.
Where a family company has cash in the bank but profits have been adversely affected by the pandemic, directors of a family company may wish
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
A SIC code stands for Standard Industrial Classification code, and classifies your business activity at Companies House. SIC code for a company can be changed
A popular profits extraction strategy for personal and family companies is to extract a small salary, taking further profits as dividends. Where this strategy is
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