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... 
by Just Us Agency | Jul 12, 2018 | Corporation Tax, General, HMRC notices, Income Tax, News
Under Making Tax Digital for VAT, businesses will be required to keep digital records and to file their VAT returns using functional compatible software. The following records must be kept digitally. Designatory data – Business name. – Address of the... 
by David Merrifield | Jul 11, 2018 | Corporation Tax
The government is to move forward with plans to charge Corporation Tax to non-UK resident companies with property income. Currently, these companies are chargeable to Income Tax and not UK Corporation Tax. This change is part of the government’s aim to ensure... 
by David Merrifield | Jun 13, 2018 | Corporation Tax
Capital Gains Tax (CGT) is not payable by limited companies or unincorporated associations when they sell an asset and make a gain. Instead, the gain (proceeds less any allowable costs and reliefs) is subject to Corporation Tax at the applicable rate, currently 19%....