Jennifer Adams explores where company owners might get useful short-term loans. The cheapest personal bank loan rates are double what they were 18 months ago, though this has stabilised recently. Currently, the best loan interest rate between £7,000 and £25,000 is 5.9%. However, there is a source of finance from which a director or participator […]
Company Loans for the Owners Read More »
Ken Moody highlights some confusion over what exactly are ‘distributions in specie’ and outlines some important tax implications. I was asked a question recently about a transfer of shares between a 60% subsidiary to its holding company and whether this would be better structured as a dividend in specie or a distribution in specie. I
What’s in a Name? Distributions in Specie Read More »
Are you looking for a complete list of allowable limited company expenses in the UK? Then, here is a blog that you must read. It is important for a business to know what allowable limited expenses are to calculate their taxes. If you have registered as a limited company recently, you will have a hard
What are the Allowable Limited Company Expenses in the UK? Read More »
If you are not aware of when our corporation tax is due in the UK, including when to pay it, the allowances, and the reliefs available, this guide is exactly what you need. Companies generally pay corporation tax in instalments, with specific deadlines. It’s important for companies to understand the rules and requirements for each allowance
When are Corporate Tax Due? Read More »
The UK is known to be the most strict when it comes to the UK tax. Also, the tax code is the longest in the UK. The tax system is a little complex due to certain facts, however, it tends to be the most straightforward system in the works as well. The main reason the
What are the Main Types of Taxes in the UK? Read More »
Are you planning on flipping the house being a UK resident? You must be aware of the facts about the tax implications in this regard and how it might affect the process. We have covered all the basics regarding the frequently asked queries in this comprehensive guide. This will even help you to learn the
How Much Tax on Flipping a House? Read More »
Most directors know that as of 1 April 2023, companies with taxable profits in excess of £250,000 will pay corporation tax at the main rate of 25%. Companies with taxable profits of £50,000 or less will still be charged at 19% and those with profit levels between £50,000 and £250,000 will pay tax at 25%,
Corporation Tax Rate Changes – What are Tax Implications? Read More »
This is thought to be a tricky practice when you aim to reduce your tax amount in the bills. This is the indication of the most liable individual and the business owner to pay the tax amount exactly what they owe to HMRC according to their tax bills. However, the desire of knowing how to
How to Reduce Corporation Tax in the UK? Read More »
The corporation tax rules are changing from 1 April 2023, and the amount that a company will pay will depend on the level of its profits, and also whether or not it has any associated companies. Briefly, from 1 April 2023, companies with profits below the lower limit will pay corporation tax at the small
Corporation Tax – Are You ‘Associated’? Read More »
If your company is no longer trading and does not have any other income, you can tell HMRC that it is dormant. This will relieve you of the need to file a company tax return or pay corporation tax. However, while your company still exists, even if it is no longer trading, you will still
Tell HMRC That Your Company is Dormant Read More »
