Tax and Business




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Flow Chart
Flow chart - capital allowances annual investment allowance Where you purchase plant or machinery for use in your business you are entitled to claim a tax deduction for the cost. This can be spread over many years. However, in a twelve-month period y... Read more
UPDATED20 Oct 2021
Credits: 1
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Flow Chart
Flow chart - employee expenses paymentsAs an employee or director if you incur expenses relating to your job you might be entitled to claim a tax deduction for them. However, there are rules and procedures which HMRC applies rigorously.Flow chartThe ... Read more
UPDATED20 Oct 2021
Credits: 1
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Flow Chart
Flow chart - income tax trading loss reliefWhere a business makes a loss from its trading activities, the business owners may be entitled to claim tax relief. This is given by allowing the individual to reduce the amount of income on which they are o... Read more
UPDATED20 Oct 2021
Credits: 1
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Flow Chart
Flow chart - reclaiming additional stamp duty land tax If you own a residential property and purchase another, you must usually pay the stamp duty land tax (SDLT) additional charge (also called the higher rate or supplementary charge). If the new pro... Read more
UPDATED20 Oct 2021
Credits: 1
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Flow Chart
Flow chart - student loan repayments Whatever type of student loan you have you're required to make repayments when your earnings reach a certain level. You may have more than one type of student loan each with different repayment stating points and r... Read more
UPDATED20 Oct 2021
Credits: 1
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Flow Chart
Flow chart - appointing someone to help with your tax affairsIf you need help with your tax affairs you can ask an accountant, tax advisor, friend or family member to do so on a short or long-term basis. However, HMRC is notorious for insisting that ... Read more
UPDATED20 Oct 2021
Credits: 1
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Flow Chart
Flow chart - new employee tax code procedure Notifying HMRC of a new employee and establishing the correct tax code to use against their pay is an important part of the general admin and paperwork required when you take on a new worker. If you don't f... Read more
UPDATED20 Oct 2021
Credits: 1
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Letter
Claim for company loss relief under temporary extensionIf your company makes a loss in an accounting period falling into financial year 2020 or 2021, it can take advantage of the temporary extension to the carry-back relief to relieve total profits f... Read more
UPDATED24 Sep 2021
Credits: 1
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Checklist
How do we form a company?It's never been easier to form a company and to start trading immediately. But as always there's an element of you get what you pay for. So what are the pros and cons of each option?... Read more
03 Aug 2021
Credits: 1
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Notice
Notice to directors of ordinary board meetingIf you're involved in running a company, it's vital to have regular meetings and also to ensure an accurate record or what was discussed and agreed is kept.ProcedureThere are no statutory requirements about ... Read more
03 Aug 2021
Credits: 1