by AJN Accountants | May 17, 2022 | Accounting, Advice, Business, News
The untimely death of a sole shareholder/director of a private limited company can bring business to a standstill and put considerable pressure on the deceased’s personal representatives. When a sole director dies – and if there are surviving shareholders or members –...
by AJN Accountants | May 10, 2022 | Accounting, News, Tax Planning
All late paid tax now carries interest at 3%. Where the tax has been outstanding for more than six months a 5% surcharge on the outstanding amount may also apply. Surcharge rates of up to 15% can apply for VAT paid just one day late. If you can only pay some of your...
by AJN Accountants | Apr 21, 2022 | Accounting, Advice, Business, Financial Planning, Tax Planning, VAT
Contract termination fees can be a bitter pill to swallow when you just want out of an expensive agreement. What’s worse is that some suppliers will charge VAT on top of the cancellation fee while others will not. The law has been a bit of a mess but HMRC has...
by AJN Accountants | Apr 11, 2022 | Accounting, Advice, Financial Planning, Tax Planning
In uncertain times people instinctively look for alternative ways to invest and some may choose cryptoassets such as Bitcoin and non-fungible tokens. If you decide to go digital with your investments, think about how the profit or loss you make on these assets will be...
by AJN Accountants | Apr 4, 2022 | Advice, Property
When an individual dies everything they own is valued to calculate the inheritance tax (IHT) due on their estate. These assets include the deceased’s main home and any let properties they may own. All of the assets must be valued based on a deemed transfer at...
