Funding your business using director’s loans is very common, but if you don’t repay the loan within a certain time period you could end up paying tax on the outstanding amount. In this article you can learn about the tax…
Reforms to the VAT interest payment rules to bring them into line with those for Income Tax have been delayed to January 2023. Current VAT Interest Repayment Rules Under current rules, if a VAT return shows that a repayment is…
Achieve a healthy business with these 5 good habits. Committing to some good habits will help to ensure your business is going in the right direction. Whilst this isn’t a definitive list, here are 5 habits we have identified to help…
The new tax year is fast approaching and changes to National Insurance contributions for some taxpayers will soon take effect. In this article we will look into the coming changes including who will be affected, when, and what the new rates…
For many, the family home will be the most valuable asset they own. Consequently, when exploring ways to reduce inheritance tax, it is common for people to try and gift their home to someone else within their family before they…
There are strict anti-avoidance rules in place when it comes to the re-payment of director’s loans. Transactions between a director and his or her personal or family company are common and a director’s loan account is simply an account for…
Financial health is set to be a growing trend for the year ahead. As such, attention will naturally be drawn towards earnings and the associated tax implications. It is useful to be aware of these 4 tax traps to avoid…
With the end of the tax year approaching, now is the time to review your gains and losses in the tax year, as well as planned disposals, to assess whether it is beneficial to make any further disposals in 2021…
The resilience of SMEs across the country during the pandemic has been nothing short of impressive and as we look towards the year ahead, there appears to be a resounding sense of optimism amongst business owners. Businesses clearly want to…
“I’m ringing to find out how much the national living wage increase in April is going to cost my business so I can get planning for it.” Focal Business Group Client This was a query we received from one of…
