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Back to school – help with childcare costs
As children return to school after the summer break, HMRC is reminding parents that they may be eligible to use the Tax-Free Childcare (TFC) scheme to help pay for any approved childcare.
The TFC
Tax on trivial benefits
There is a benefit-in-kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally to employees, or any other BiK classed as
Taking goods temporarily out of Great Britain
There are special rules that must be followed when goods are taken temporarily outside of Great Britain (England, Scotland and Wales). As a general rule, when goods are moved, they must be declared,
Business asset disposals taxed at 10%
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where this relief is available Capital Gains
Closing a limited company
There are a number of reasons why you may consider closing your limited company. This could be because the limited company structure no longer suits your needs, your business is no longer active, or
Tax when you sell property
The annual exempt amount applicable to Capital Gains Tax (CGT) is currently £6,000 and is set to be reduced to £3,000 from April 2024.
CGT is normally charged at a simple flat rate of 20% and this
Tracking down lost pension details
Ever had a nagging feeling that you have a pension pot somewhere but have no idea how to track it down?
Well, there is a solution.
There is a search link on the GOV.UK website at
Companies urged to file accounts early
Companies House has issued a news update targeted at companies who are due to file accounts by the end of September 2023. Generally, this would be for accounts ending 31 December 2022.
In their
Current capital allowances for car purchases
If you are thinking about purchasing a company car through a limited company, there are many issues that need to be considered. In this short article we will point out some of the main issues, but it
Share buy-back clearance applications
Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions and be subject to Income Tax.
However, if certain conditions are met, the payment can
