When Directors lend money to their company we are often asked about whether they should charge interest to the company. This “simple” example explains the issues and benefits…
Interest on Director’s Loan Accounts (DLA)
Building Your Own Home? – don’t miss a VAT reclaim!
Are you having your new home or holiday home built to specification? Just as a builder in business is able to claim back all of his input VAT on building a new residential property, there is a VAT scheme which allows
Buy To Let – Taxation Changes
THINKING OF BUYING A SECOND PROPERTY – Taxation Changes If you are thinking of buying a second property, please ensure you consider the tax changes. 1.RESTRICTION OF TAX RELIEF ON INTEREST IN RESPECT OF RESIDENTIAL RENTAL PROPERTY The amount of income tax relief that
Dividend Tax from 6 April 2016
The following information details some changes to dividend tax. We will be writing to our company director clients in January 2016. The new “Dividend Allowance” A new £5,000 dividend allowance is being introduced. If your dividend income is less than
Pros and Cons – VAT Flat Rate Scheme
Many of our small business clients (turnover must be less than £150,000 to join the scheme) either use or are interested in this way of accounting for VAT to HM Revenue & Customs, as it simplifies their book-keeping requirements, saving