Stress Testing and Scenario Analysis
The global pandemic has ensured we will never forget 2020! Of particular importance to business is to revisit your strategic plan.
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Winding up your company? What is the most tax efficient way to do so?
If your business life cycle has come to an end or perhaps you are retiring you may decide to wind up your company. Our latest article looks at steps you can take to increase tax efficiency.
Parking fines – can my business reclaim the VAT?
Fines and penalties are not a tax deductible expenses, meaning the business will not receive tax deduction when incurring them. Read on to find out whether or not your business can reclaim VAT on parking fines.
When is a dividend taxable?
Director/shareholders can at times find themselves in a situation where they have used business cash to fund personal purchases. It is important to record such transactions adequately in the company books to avoid potential issues with HMRC.
Suggestion scheme awards. What are they and are they tax free?
This post discusses the main talking points of suggestion scheme awards and where employees and employers both stand in relevance to them. Read on to find out how it may affect you.
Should I change my director’s salary this tax year?
With the change from one tax year to the next comes a range of different tax rates, allowances and thresholds that can change the way in which you manage your taxes. A company director is typically paid a salary from the limited company, which is calculated very specifically to maximise tax-efficiency. Should you therefore increase…
Mileage Claim versus Expenses Claim – which is best for tax?
If you use a car for legitimate business journeys then you are able to claim related motor expenses against your business profits, which will help reduce your overall tax bill. There are a couple of methods for doing this. One is to claim back the business related percentage of your total costs. The other is…
Relevant Life Insurance Cover is Tax Deductible
It isn’t common knowledge that a specific type of life insurance cover, called Relevant Life insurance, is deductible for tax relief within the framework of a limited company. However, it is a valuable piece of advice, as savings of up to 52% can be made by switching policy.