Directors might opt to either lend money to or borrow from their own company. This type of transaction is called a director’s loans, and they are recorded in the Director’s Loan Account.
Read More »Understanding Director’s Loan Account (DLA) and the risks involved
For business owners, understanding depreciation is not just about accounting practices but also about handling their taxes efficiently. Read More »What tax implications can come with depreciation?
In December 2022, the plans for Making Tax Digital for Income Tax Self-Assessment changed again, as the Government announced that instead, MTD ITSA would be introduced in mandatory phases from 6 April 2026, as opposed to 2024.
Knowing your charity’s obligations to HM Revenue & Customs (HMRC) is important, as you will have different requirements to standard businesses.
Collections of Capital Gains Tax (CGT) reached a record £16.7 billion in the last tax year, a notable increase from the preceding year’s £14.3 billion.Read More »Capital Gains Tax for SMEs – Recent trends and compliance
Running a successful business in the UK is a challenging yet rewarding endeavour.
Read More »Top tips for being a successful business owner amid financial challenges
Starting your own business can seem daunting, especially when it comes to finding funding.
Read More »Everything you need to know about Government Start Up Loans
As of 8 August 2023, all Research and Development (R&D) Tax Credit claims require the submission of an online Additional Information Form (AIF) providing supplementary… Read More »New R&D supplementary information form in effect
In the second quarter of 2023, overpayments on pension tax in the UK reached £56 million. This was an increase of nearly £8 million from… Read More »£56 million overpaid in pension tax
Introduced in 2014, Employee Ownership Trusts (EOTs) provide an attractive alternative to traditional business succession strategies, offering a series of unique benefits to businesses, their… Read More »The benefits of Employee Ownership Trusts
