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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…

Tax policy is used to influence behaviour as well as to collect revenue. One example where this is the case is the company car tax rules which tax high emission cars heavily and reward drivers for choosing electric and low…

With the tax season in full swing, this is the time of year we typically experience a surge in enquiries relating to rental income. Understanding relief for rental losses is useful. While the intention is to make a profit from…

Undertaking work on a rental property while empty – can you deduct the costs? Undertaking work on a rental property while empty – can you deduct the costs? Knowing when costs can be deducted for tax purposes can be complex.…

A new year signals an influx of goal setting and for some that could mean pursuing their dream of setting up their own business. For someone looking to start their own business, it is useful to know about the tax…

The January self-assessment payment deadline is not well timed, falling as it does in a month when people may already be struggling to pay their Christmas credit card bills. However unpalatable the 31 January tax deadline is, it is not…