Tax and Business
Models (673)
IHT fall in value relief for shares checklistWhere a sale or transfer of shares or other qualifying investments is made within one year of death at a value less than they had for probate, inheritance tax (IHT) can be recalculated using the lower valu... Read more
07 Jul 2020
Fixed asset registerCapital expenditure for accounting purposes doesn't always qualify for capital allowances (CAs) purposes. Use our fixed asset register to keep a record of purchases so that you and your accountant can review them each year.Property... Read more
05 Jun 2020
Rent or business asset disposal relief checklistIf you personally own property that your company uses for its business, there can be tax advantages to having the company pay you rent. However, doing so can mean a higher capital gains tax bill when yo... Read more
18 May 2020
Minutes of board meeting held remotelyCompanies must record what happens at board meetings and this rule still applies to those held remotely by telephone/video conference. This helps to keep track of what was decided and when, and the minutes can als... Read more
22 Apr 2020
Notice to terminate or suspend contractTo terminate a contract, you will need to notify the other party. Use our model notice to terminate as a guide.End of the roadBusiness contracts may need to be suspended or terminated for many reasons, a recent ... Read more
22 Apr 2020
Tax deduction from benefits in kind claimWhere an employee is taxable on a benefit in kind resulting from the use of an asset owned by their employer and they partly use the asset for business purposes, the employee is entitled to claim a deduction f... Read more
15 Apr 2020
Partnership cross option clauseIn the event of the untimely death of one of the major partners, the surviving members probably won't want the partnership interest to go to the deceased's beneficiaries unless they are already involved in runnin... Read more
15 Apr 2020
Election to accelerate transitional chargeWhere you change from calculating your rental business profits and losses from the cash to the accruals basis, you are required to make a one-off adjustment. This is known as the transitional adjustment, whic... Read more
15 Apr 2020
Spouse's job descriptionA business can pay a salary to the spouse or other family member of its owner if they work for it. Having a formal job description will help justify the amount paid if HMRC decides to challenge it.spouse's payThe wages paid to a... Read more
03 Apr 2020
Transactions in securities clearance letterIncome and corporation tax anti-avoidance rules apply to a wide range of transactions involving shares or securities in companies. To provide certainty over whether HMRC will consider that a transaction is c... Read more
06 Dec 2019
