Tax and Business

EIS qualifying company checklistThe enterprise investment scheme (EIS) is a good way to incentivise external investors to buy shares and provide much needed capital for your trading company. Use this handy document as a first step to check whether yo... Read more

Election to opt out of rental cash basisFor tax purposes accounts for income derived from property must be prepared on the cash basis unless the total income you receive from property exceeds £150,000 in a tax year. However, it can be advantageous n... Read more

Property rental business loss relief claimIndividuals, including members of business partnerships, can claim a deduction in the tax liability on general income where their property rental business has made a loss and all or part of that loss results ... Read more

Schedule of pre-registration expenditureIf in the four years before you register for VAT you incur expenditure for your business which includes VAT (input tax), you can reclaim it if conditions are met.Pre-trading expenditureIt is possible for you to... Read more

Directors' duties summaryAll directors know that they have to abide by their duties when running their companies, but what exactly are they? Our summary explains them in turn. General statutory dutiesThe Companies Act 2006 specifies a director's genera... Read more

Agricultural flat rate scheme letterIf you operate a small farming business, you might qualify for a little known scheme that can give your cash flow a boost.When is the scheme available?The agricultural flat rate scheme (AFRS) is available to a wide... Read more

Holdover relief claimWhen you give away an asset for no consideration, or knowingly sell it for less than it's worth, you will be charged capital gains tax based on the market value. However, you might be able to make a claim to hold this gain over de... Read more