Company tax


To help ensure your company pays the least amount of tax possible


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Clause
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
UPDATED13 May 2022
pdf
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
20 Oct 2021
Credits: 1
pdf
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
20 Oct 2021
Credits: 1
docx
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
24 Sep 2021
Credits: 1
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Flow Chart
Flow chart - close, dissolve and strike off a companyIf you no longer need a company, you can apply to Companies House to have it struck off. Before you do this several conditions must be met. The procedure itself is simple. However, you must also en... Read more
15 Dec 2020
Credits: 1
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Flow Chart
Flow chart - company loans to participatorsWhere a company advances money or confers a benefit directly or indirectly to an individual who owns or has a say in controlling the company it must pay a tax charge unless the arrangement is covered by an e... Read more
15 Dec 2020
Credits: 1
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Flow Chart
Flow chart - capital gains tax private residence reliefPrivate residence relief prevents or reduces capital gains tax being payable from the sale or transfer of a property that's been your home for all or part of the time you owned it. The once simple... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - capital allowances short-life asset electionTax relief on the cost of equipment you acquire for your business is spread overdecades unless your purchases are covered by the annual investment allowance or first-year allowance. However, it... Read more
15 Dec 2020
Credits: 1
pdf
Flow Chart
Flow chart - business asset disposal relief Business asset disposal relief (BADR), known as entrepreneurs' relief until 6 April 2020, reduces the rate of capital gains tax for on gains made from the sale or transfer of a business, assets of that busin... Read more
15 Dec 2020
Credits: 1
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Flow Chart
Flow chart - forming a limited companyLimited companies are often created specifically for tax reasons although primarily their purpose was to limit their owners' financial and other liabilities. Forming a limited company can be a simple process but i... Read more
15 Dec 2020
Credits: 1