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Limited Liability Partnerships

A limited liability partnership (LLP) is not a partnership but a body corporate with a difference – there are no shareholders or guarantors (as

Loans To Participators

Where a close company (or LLP) makes a loan (otherwise than in the ordinary course of a business) to an individual who

Unrelieved Interest On Residential Lets

For 2020/21 and later tax years, unincorporated property businesses are only able to obtain relief for interest and finance costs on residential

Is Rent-A-Room Relief Always Worthwhile?

Rent-a-room relief aims to encourage those with spare rooms in their homes to let them out to increase the supply of furnished

What is a balance sheet

Income statement, cash flow statement, and balance sheet are the three important financial documents that every business needs while setting up a

How to Value a Business

This question pops up ” how much is your business worth?” in our mind when it comes to buying, selling, or expanding

what is gross pay

When it comes to paychecks, you need to know what is gross pay. The gross pay is the advertised amount used by

New Lower SDLT Residential Threshold

Back in July 2020, the residential stamp duty land tax threshold in England and Northern Ireland was increased to £500,000 to help

trading loss relief

It is not uncommon to realise a loss in the early years of a trade. However, traders who commenced their self-employment in

tax relief on loans

Family and personal companies are often ‘close’ companies. Broadly, this is one that is controlled by five or fewer shareholders or any

Class 1a national insurance

As the Coronavirus Job Retention Scheme comes to an end, employers with employees who are still on furlough will need to decide

claim tax relief

During the Covid-19 pandemic, the advice was ‘work from home if you can’. As a result, millions of employees found themselves working

What is asset finance

If you are new to finance, you might be confused by the term “asset finance”. Though this jargon seems complex, but it’s

dividends

For personal and family companies, a tax efficient strategy for extracting profits is to take a small salary and to extract any

Nominated as a Best Price Comparison website in London

We are super excited to announce that we were nominated as one of the best London-based price comparison websites by BestStarup.co.uk. An

Research and Development Costs

Often the companies that are working in the field of Science and Technology for some Innovative Projects are Offered Research and Development

is car taxed

Multiple tax considerations are to be taken into account before you decide to buy the car through your limited company. This guide

Statutory Sick Pay

The employer is liable to pay £96.35 every week to an employee who is too sick to work. The extent of sick

What is ERP

For successful business practices, you need to speed up the automation processes of your business through various tools. As the smooth, efficient

Why You Shouldn’t DIY Your Business Accounting

Starting a business with nothing to your name can mean that you would need to do things on your own for a

tax consequences of 'illegal' dividends

Dividends can only be declared out of a company’s available undistributed profits, and if the payments are to be legal then the

dividend waivers

Dividends are paid at the same rate for each category of share according to the number of shares held. However, such inflexibility

What Happens If Your Business Is ‘Chosen’ For An HMRC Enquiry

HMRC has the power to enquire into any return and request any information to establish whether that return is correct. No reasons

Obtain relief for pre-letting expenses

When starting a new property rental period there will usually be a preparatory phase during which expenses will be incurred. To what