Writing off a director’s loan

An overdrawn director's loan account is created when a director (or other close family member) 'borrows' money from their company ...
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Tax benefits of switching to electric cars

There are many benefits to encourage the use of electric cars including lower running costs, the environmental advantages and reduced ...
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Builders – when you may not have to charge VAT

VAT for most work on houses and flats by builders and similar trades, like plumbers, plasterers and carpenters, is charged ...
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Mortgage interest on rented property

Under new rules that came into effect from April 2017 the tax relief on mortgage costs for residential landlords was ...
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Check which EORI number is required

The Economic Operators' Registration and Identification System (EORI) was setup as a European Union (EU) wide initiative that helps businesses ...
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Accountancy expenses arising out of an enquiry

HMRC’s internal manual offer some revealing insights as to the treatment of accountancy expenses arising out of an enquiry. As ...
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PAYE settlement agreements

A PAYE Settlement Agreement (PSA) allows employers to make one annual payment to cover all the tax and National Insurance ...
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Tell HMRC if your company is dormant

If a company has stopped trading and has no other income, then the company is usually classed as dormant for ...
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Reclaiming VAT

For most fully taxable businesses, VAT can be reclaimed on goods and services used in the course and furtherance of ...
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Paying staff on jury service

If you have staff that have been called up to serve on a jury, then you must allow them the ...
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Tax Diary May/June 2022

1 May 2022 - Due date for corporation tax due for the year ended 30 July 2021. 19 May 2022 ...
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Demergers

There are special statutory demerger provisions that are designed to make it easier to divide and place into separate corporate ...
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