Help &amp; Advice

Accountancy, Tax

There are broadly three ways to extract income from your company but none of them is singularly the most tax efficient. What factors should you be considering when deciding which…

Pros and cons of employing family

25th May 2022

Tax

Pros and cons of employing family. Sharing your business income with your family is good for them and can be tax efficient for you. However, you might have to justify…

Sell your shares to your spouse to save tax

4th March 2022

Giving a share of your business to your spouse can reduce the tax bill on its profits. Alternatively, you could sell part of the business to them which can…

Clearing a director’s loan account tax efficiently

4th February 2022

Accounts, Tax

Writing off an overdrawn director’s loan account can be tax efficient. The trouble is it can come with a large NI bill. Is there a more tax and NI…

Staying away the tax efficient way!

7th January 2022

Uncategorised

If you have to travel on business HMRC accepts the cost as a tax deductible expense. However, it argued the opposite in a high profile tribunal case. Why and what…

Working from home – what’s the tax position when you sell?

5th November 2021

You switched from working in the office to working at home a while ago. You’ve heard that this can result in a tax bill if you move home, is that…

The ins and outs of reclaiming pre-registration VAT

3rd September 2021

The rules regarding pre-registration VAT have always been a source of confusion. HMRC’s tinkering of its own internal guidance has made matters worse. What do you need to know…

What’s the right way to treat entertainment costs for tax purposes?

6th August 2021