Jun 28, 2017 | Corporate Tax, Personal Tax
There are now several allowances that apply to an individual’s income. The way that they interact mean that you can potentially receive £22,500 of tax-free income for 2017/18. How can you ensure you take maximum advantage? ALLOWANCES For 2017/18, the personal...
Jan 11, 2016 | Accounts, Business Finance, Corporate Tax, General
The Finance Act 2015 and proposals in the Finance Bill restrict the tax relief which your company clients may claim in respect of goodwill and certain other customer-related intangible fixed assets. What are the new rules and what action do you need to take? GOODWILL...
Feb 26, 2015 | Corporate Tax, General, Payroll, Personal Tax
If the director shareholder has no other income and the EA is available, the optimum position will be to take a salary equal to the personal allowance (£883.33 per month) and to withdraw further profits in the form of dividends. Although this approach will result in...
Aug 28, 2013 | Corporate Tax
Tax relief There are many different tax reliefs available but you need to know about them to make sure that you receive the benefit. A lesser known tax relief is ‘Land Remediation Relief” which I thought I would briefly outline to help make landlords,...
Jul 31, 2013 | Corporate Tax, Personal Tax
Friend or foe? I often spend time with directors of their new Limited Companies explaining the methods of extraction of funds from the company. One of the aims is to help them avoid getting into the situation of an overdrawn directors loan account which then involves...
Sep 26, 2012 | Corporate Tax, Personal Tax
Tax computation Have you ever wandered what adjustments your accountant makes and why? The net profit in the accounts is only the starting point for the calculation of taxable profits, the accountant will make adjustments for the following: Expenses charged in...
