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...
by yasiradnan94 | Mar 11, 2022 | Accounting, Business, News, Tax Planning, VAT
For VAT periods starting on and after 1 April 2022 all VAT records must be recorded digitally and returns must be submitted under the Making Tax Digital (MTD) regime. If you are not already submitting your VAT returns using MTD-enabled software (or asking us to do so)...
