Newsletters
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Avoid losing the right to sole-trader losses when incorporating your business
Personal TaxThe First-tier Tribunal (FTT) recently considered a claim for relief for losses made by a sole trader to reduce the tax payable on income he received from his company. How did the FTT rule and why?
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Company loans: how can you avoid a benefit charge?
Personal TaxYou need to borrow money to pay for home improvements. Your company will advance you the cash if you pay it interest at HMRC’s official rate to prevent a benefit in kind. How can a little-known tax break protect you from interest rate rises?
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Wrongly claimed input tax: use a concession
VATHMRC has identified that one of your suppliers is no longer registered for VAT, so should not be quoting their VAT number on their sales invoices and you should not claim input tax. An assessment is likely, but is there a potential escape route?
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Surrendering a lease: a hidden tax trap
Business TaxSeveral years ago you signed a lease on a business premises which is now too big for your needs. The landlord has agreed that you can surrender the lease if you pay a fee. Can you claim a tax deduction for this?
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Tax cuts central to mini-Budget
Business Tax, Personal TaxThe rumours ahead of the mini-Budget were all about tax-cutting measures, and the new Chancellor didn’t disappoint. What key changes were announced?
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How long do you really need to keep payroll records?
Business Tax, Employment lawYou’ve decided to have an office sort out and are keen to get rid of the company’s old payroll records. You’ve heard that you only need to keep three years’ worth - is this correct?
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