by David Merrifield | Nov 15, 2018 | Corporation Tax
There are tax consequences for both companies and directors relating to the issue of director’s loans. We will examine below some of the implications if a company facilitates loans to a director. A director’s loan comprises not just an actual loan, but can also... 
by David Merrifield | Oct 11, 2018 | Corporation Tax
Corporation Tax relief may be available when a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offset against other gains or profits of the business in the same or previous accounting period. The loss can also... 
by David Merrifield | Aug 14, 2018 | Corporation Tax
The Office of Tax Simplification (OTS) provides independent advice to the government on simplifying the UK tax system, with the object of reducing compliance burdens on both businesses and individual taxpayers. The OTS operates on a permanent, statutory footing and... 
by David Merrifield | Aug 7, 2018 | Corporation Tax
HMRC defines a director’s loan as money taken from your company (by you or other close family members) that isn’t: a salary, dividend or expense repayment and money you’ve previously paid into or loaned the company An overdrawn director’s loan account is... 
by David Merrifield | Jul 18, 2018 | Corporation Tax
The security deposit legislation is to be extended to both Corporation Tax and Construction Industry Scheme (CIS) deductions from April 2019. The security deposit regime allows HMRC to require security from high-risk businesses where there is a serious risk that taxes... 
by David Merrifield | Jul 18, 2018 | Corporation Tax
The rules for the Corporation Tax treatment of carried forward losses changed from 1 April 2017. The changes increased flexibility to set off carried forward losses against total profits of the same company or another company in a group whilst at the same time...