Tax and Business
Models (674)
Business formatsMany businesses start organically as sole trader enterprises, evolving into partnerships or companies as they grow. But what are the other options? Incorporated v unincorporatedBusiness formats fall into two categories: incorporated a... Read more
23 Sep 2022
Checklist for altering the company's articles of associationDuring the life of a company, there are many situations that call for a change to the articles. How do you go about this? Our checklist takes you through it.Why change?When a company is first... Read more
22 Aug 2022
How companies workSmall business owners are used to doing everything, from carrying out seemingly menial tasks to making complicated management decisions. If the business takes the form of a company, they must remember to keep their various roles sep... Read more
22 Aug 2022
Pay in lieu of notice clauseIn the absence of an express payment in lieu of notice clause, you don't have the contractual right to terminate employment summarily upon making such a payment. This doesn't mean you can't do it, but you do need to weigh up ... Read more
13 May 2022
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
20 Oct 2021
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
20 Oct 2021
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
20 Oct 2021
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
20 Oct 2021
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
20 Oct 2021
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
24 Sep 2021
