FRS 102 guidance on directors' loans revised

1st July 2016

HMRC have recently updated their online toolkit on directors' loan accounts to help tax advisers and agents preparing 2015/16 company tax returns.

Patent box tax break cut short

12th December 2014

The patent box scheme offers a 10% tax rate for companies which innovate. However it’s soon to be closed. How long do you have to take advantage?

Dealing (tax efficiently) with a failing investment

1st December 2014

A few years ago you set up a company to invest in other businesses. One of them has struggled and you’re undecided whether or not to pull the plug on your investment. If you go ahead what’s the most tax-efficient way to do it?

Tax relief for rent-free periods

25th November 2014

You’ve signed a new lease on your premises and negotiated a rent-free period with your landlord. How will this affect the timing of tax relief over the term of lease?

Repaying your director’s loan account

18th November 2014

Your company’s financial year ends on 31 December and your director’s loan account is in deficit. To avoid this triggering a tax bill for your company, you could take a bonus to clear the debt. What’s the most tax-efficient way to handle this?

Bad debt equals good tax deduction

21st May 2013

In these difficult times bad debts are a big problem. If you don’t keep a watchful eye on them your company might be paying Corporation Tax on income it will never receive. How can you formulate your claim for a tax deduction for maximum advantage?

Where should you invest your company money?

17th December 2012

A tribunal recently considered the tax consequences of a director investing company money into his personal bank account. The judgement didn't go well for the director, but does this ruling mean this type of scheme can never work?

Taxman demands Corporation Tax forms early

7th September 2012

The deadline for Corporation Tax forms hasn't changed in years. So why is the Taxman sending out early demands, and how should you respond to these?

A new company start-up incentive

10th April 2012

Entrepreneurs can now get their hands on the Taxman's generous new company start-up relief. But creating a new company can increase the tax bill for others associated with it. So is it worth the effort?

Small profit rate tax trap

6th March 2012

The Corporation Tax rate leaps from 20% to 27.5% where company profits exceed £300,000. But the higher tax rate can kick in on lower profits if you own shares in more than one company. What is this trap and how can you avoid it?

A Company Tax Break for Capital Losses

6th October 2011

This years Finance Act included an important change to the rules on capital losses made by group companies. What was his and how can you be sure your company qualifies?

Dont Fall Into an NI Trap

5th October 2011

Two directors have been meeting the cost of business expenses out of their salary but theyve now found out that this could be costing them thousands a year in extra NI. Why is this and what's the alternative?