Update: July 2018It is time to take action if your business has a taxable turnover above the VAT threshold of £85,000. The government has confirmed that from 1 April 2019 all VAT registered businesses with taxable turnover above the VAT threshold (currently £85,000)...
In an article published in September 2016's Taxation magazine, Craig Simpson, partner at Bates Weston Tax LLP, examines the treatment of surplus cash in a company. Tha article is written as a discussion document for fellow professional tax advisers, however it...
Changes in the taxation of property income from letting residential propertyThere have been a number of changes in the taxation of income from residential property which will be introduced over the next 5 years. The key changes are shown below. Please note that none...
Partnerships were common in many professional businesses where regulations prohibited them from becoming limited companies.The salaried partner was a “stepping stone” to becoming an equity partner, delivering partner status and receiving a salary rather than a profit...
R & D tax credits can be worth up to 230% of the money you have invested in eligible R & D this year and what’s more, you can claim R & D relief on expenditure that’s up to three years old.If you can answer yes to all three of the following questions you may well be...
Historically most of the tax advantages from share incentives were targeted at larger companies. The exception, designed for smaller companies, was the EMI (Enterprise Management Incentive) scheme.The usefulness of EMI was drastically reduced in 2008 with the...
Most small to medium sized businesses are sold through the sale of shares or assets.The major question to be addressed will be whether a sale of shares in the company or a sale of the trade out of the company is the preferred route? Tax will be a major consideration...
Have you thought about the tax implications of the ownership of business property lately?There are major tax implications surrounding entrepreneur’s relief, business property relief for inheritance tax purposes and tax relief for interest costs, to be balanced against...
What‘s the most tax efficient structure through which to own investment property?Are you a high rate tax payer with surplus cash, looking to invest in property? Do you already own several investment properties and are you sure you have the most tax efficient ownership...
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