by yasiradnan94 | Oct 26, 2022 | Accounting, Advice, Business, Tax planning
Many employers will advance modest loans to employees to meet upfront costs which they necessarily incur to enable them to work, such as a travel season ticket or a deposit for childcare costs. Such loans can also be provided to help towards other unexpected costs...
by yasiradnan94 | Sep 12, 2022 | Advice, Business
There are now almost 10 million people who work from home and can benefit from the tax-free allowance of £6 per week (£26 per month) which their employer may choose to pay. Employers can reimburse larger amounts to home-based employees if the employees can prove that...
by yasiradnan94 | Jun 10, 2022 | Accounting, Advice, Business, Financial planning, Tax planning, VAT
It is important to keep your personal money and your company’s money completely separate. If you use your company’s bank card to buy personal items or to pay your own bills, that expenditure is treated as a loan to you. The loan creates a corporation tax...
by yasiradnan94 | 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 yasiradnan94 | 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 yasiradnan94 | Mar 25, 2022 | Accounting, Business, Financial planning, Tax planning
The Covid-19 support grants (CJRS, SEISS and Eat Out to Help Out) are taxable and should be declared on your business’ tax return. For corporation tax (CT) you must report amounts received in the accounting period covered by the return, not grants claimed for...
