Tax implications of writing off a bad debt
Companies and self-employed businesses with a turnover exceeding £150,000 a year are obliged to prepare their accounts using the ‘accrual’ basis of calculating profits i.e.
Companies and self-employed businesses with a turnover exceeding £150,000 a year are obliged to prepare their accounts using the ‘accrual’ basis of calculating profits i.e.
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
HMRC’s basic premise is that where a company pays a personal bill, there will be tax and National Insurance implications unless the expense is work
If you operate your business through a personal or family company and extract profits in the form of dividends, it is prudent to review your
If your company is no longer trading and does not have any other income, you can tell HMRC that it is dormant. This will relieve
The government receives its tax money on different dates depending upon the type of taxcharged. Taxpayers taxed under PAYE usually pay their tax bills monthly;
The January self-assessment payment deadline is not well timed, falling as it does in amonth when people may be already struggling to pay their Christmas
The self-assessment tax return for 2020/21 must be filed online by midnight on 31 January2022 if a late filing penalty is to be avoided. The
Copyright © 2023 Pro-Taxman. All rights Reserved.